The solar energy is said to give strong competition over the conventional forms of energy such as Coal by 2020 and in certain markets in Europe, it could take just two to three years according to a study by Brussels-based European Photovoltaic (PV) Industry Association (EPIA).
The study was based on the five major solar markets—Germany, Italy, France, Spain and Britain.
The worldwide solar energy production has reached 23.5 Giga watts (GW) which is 500 times the production in 1990.
It is predicted that the investment in the sector to go over €70 billion by 2015 from €35-40 billion in 2010.
“The cost of PV Electricity generation in Europe could decrease from a range of 0.16-0.35 Euros ($0.23-0.50) per kilowatt hour (kWh) in 2010 to a range of 0.08-0.18 Euros per kWh in 2020 depending on system size and irradiance level.” European Photovoltaic (PV) Industry Association (EPIA) report was quoted by Reuters.
Courtesy : Reuters
The study was based on the five major solar markets—Germany, Italy, France, Spain and Britain.
The worldwide solar energy production has reached 23.5 Giga watts (GW) which is 500 times the production in 1990.
It is predicted that the investment in the sector to go over €70 billion by 2015 from €35-40 billion in 2010.
“The cost of PV Electricity generation in Europe could decrease from a range of 0.16-0.35 Euros ($0.23-0.50) per kilowatt hour (kWh) in 2010 to a range of 0.08-0.18 Euros per kWh in 2020 depending on system size and irradiance level.” European Photovoltaic (PV) Industry Association (EPIA) report was quoted by Reuters.
Courtesy : Reuters
2 comments:
Studies proved that solar power is a cheaper form of electricity that fossil fuels
That's not all that far from now! I'm glad that I've begun looking further in to solar energy in California for my home.
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