Solar is now cheapest form of new electricity in a host of international markets, driven by cost reductions and growth of bifaciality, large-area solar modules and trackers.
That is the conclusion of a new report released by analysts Wood Mackenzie, which also forecasts that the cost of solar PV could fall by a further 25% in the next decade.
The report, dubbed ‘Total eclipse: How falling costs will secure solar’s dominance in power’, states solar to be the cheapest form of new power generation in markets including Spain, Italy, India and 16 US states. Over the course of the next decade, the list of countries where solar will become dominant will increase to include every US state, Canada, China and 14 other nations, the report claims.
