Solar power could be 10% cheaper than coal-based power by 2020
According to One of The “Big Four Auditor” Companies, the KPMG
Financial analysts will probably be speculating on the future of coal and solar energies for a long time to come…but if solar really does become cheaper by 2020, that could cut the need for a lot of the conversation.
One key part of the following news is that it comes from “KPMG India,” a respected consultancy firm.
Do you think that this is too wild of a prediction? Do you think that solar will become cheaper anytime in the forseeable future? Read the article and let us know what you think in the comments below!
Solar will be a significant energy source by 2025, with the market penetration of solar power expected to be 5.7% (54 Giga Watt-GW) by 2020 and 12.5% (166 GW) by 2025, states KPMG India, a consultancy firm in a report, titled ‘The Rising Sun – Disruption on the horizon’.
The report highlights that the price for solar power has seen a decline; today, in India, solar prices are within 15% of the coal power prices on a levelised basis and, it is expected that that by 2020, solar power prices would be approximately 10% lower than coal power prices. The solar rooftop power, today, is already competitive compared to grid power for many consumers and, as per the report, if combined with storage, it could be cheaper than grid power after 2022 for a large section of the consumers and drive a considerable shift to rooftop power.
Source: Economic Times
