Solar power cost down 25% in five months – “There’s no reason why the cost of solar will ever increase again”

On August 11 a bid of US$0.46/W was put forward to build 500MW of solar power in China (a roughly calculated levelized cost of electricity (LCOE) at $0.019/kWh). This past week we saw a bid of $0.023/kWh to build 1.2GW of solar power in Abu Dhabi. This price of $0.023/kWh is almost 25% lower than the $0.0299/kWh was bid in late April for a series of projects also in Abu Dhabi. These extremely aggressive price falls are partially driven by unique situations – a Chinese solar panel production glut and historically low costs of money. But also because of technology as Frank Wouters, the former director of Masdar Clean Energy...
Read more: https://electrek.co/2016/09/26/solar-power-cost-down-25-in-five-months-theres-no-reason-why-the-cost-of-solar-will-ever-increase-again/?source=Snapzu