Solar Power Costs 50% Lower than Last Year

[one...two...tree 2,762]

By: Zachary Shahan

New research by leading alternative energy research firm New Energy Finance finds that solar power will cost less by about 50% at the end of 2009 compared to the end of 2008. The costs are pre-subsidy, so they could be much lower if you take better government subsidies into account.

But it isn't only solar that's down in cost. It's other renewable energy sources, too.

The research company found that equipment costs (in solar, wind, and other sectors) decreased throughout the year but these were offset by increasing financing costs. However, equipment prices are expected to continue falling whereas the financing market is expected to get better.

New Energy Finance CEO Michael Liebreich says: "as capital markets loosen up and equipment prices continue their decline, we will see the levelized costs decline, finishing the year 10 percent below the end of last year across the board and far more than that in solar."

New Energy Finance found that thin-film solar will be about 25% cheaper than crystalline silicon technology. In a related story, iSuppli presented a couple weeks ago that as a result of these dropping thin-film solar panel prices, thin-film technologies are expected to take a larger and larger portion of the market share in the coming years.

In addition to solar costs being down, New Energy Finance found the costs of wind turbines to be down 18-20% below early 2008 levels. In total, the levelised cost (pre-subsidy, lifetime cost per kWh) of other renewable energy sectors will be down by about 10%, according to the researchers.

The solar costs decrease continues a 10 year trend of lower and lower costs.

Looks like renewable energy is moving in the direction we need. Combined with government incentives and creative group discounts and homeowner financing strategies, steadily increasing renewable energy usage may turn into a real renewable energy boom soon.

http://www.scientificamerican.com/article....han-las-2009-11

[spookyturtle 9,466]

That is good news. I hope the trend continues so alternative energy sources become a viable commodity.

[one...two...tree 2,762]

That is good news. I hope the trend continues so alternative energy sources become a viable commodity.

Mark my words...it will be our next economic boom. It'd happen a lot faster if there weren't so many people fighting against it.

Edited November 29, 2009 by Galt's gallstones

[spookyturtle 9,466]

That is good news. I hope the trend continues so alternative energy sources become a viable commodity.

Mark my words...it will be our next economic boom. It'd happen a lot faster if there weren't so many people fighting against it.

Alternative energy is the wave of the future and we need to get it rolling now.

[HAL 9000 96]

Yep! And for those that are capitalists... a good wave for investment, so that previous Al Gore haters (LOL) can join him in his millions/billions and learn to love him. People need to get on the wave with this one before stock prices keep them out. Just like with Apple and Microsoft and PC stocks...