Solar panel surge predicted as costs drop to rival coal

06.04.11

The dropping price of solar panel installations may see a surge in solar projects over the next two years. Industry analysts say the cost of generating electricity from the sun will soon rival coal-fueled plants.

Bloomberg New Energy Finance estimated that large photovoltaic projects will cost $1.45 a watt to build by 2020; half the current price.

?The most powerful driver in our industry is the relentless reduction of cost,? said Michael Liebreich, chief executive officer of New Energy Finance. ?In a decade the cost of solar projects is going to halve again.?

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