Cheapest Solar on Record Offered as Abu Dhabi Expands Renewables
Posted by Big Gav in abu dhabi, renewable energy, solar power, solar pv
Bloomberg reports that a new record low price for large scale solar power of US2.42 cents per kilowatt-hour has been set in Abu Dhabi - Cheapest Solar on Record Offered as Abu Dhabi Expands Renewables.
The bid marks another record for solar technology prices, which have fallen almost 70 percent in the past five years, according to data compiled by Bloomberg New Energy Finance. Competition among Chinese solar manufacturers including Jinko has brought down the cost of delivering panels while more investors have become comfortable with backing the technology, reducing borrowing costs.
Solar panels have declined in cost by more than 100x over the last 40 years. #VERGEcon. Just broke 50 cents per watt last week. pic.twitter.com/9jY3Q3ddUk
— Bill Gross (@Bill_Gross) September 21, 2016