The world will need to de-carbonise its Power sector by 85-90% within 15 years in order to avoid runaway climate change. Making this change is feasible from both a technological as well as from an economic perspective and provides very exciting opportunities to investors, whilst the traditional fossil fuel industries are being disrupted.
Between 2011 and June 2016, the cost price of PV installations has reduced with 60%, and we expect that this process of cost price reductions will not stop any time soon.
The levelized energy costs of large scale ground mounted PV systems, in locations between 40 degrees North and South of the equator have dropped to 7 dollar cents (US) / kWh or below, and with that, are often competitive with any other type of power generation, including those of newly built coal powered power stations.
Cost prices of solar power in the UK are already lower than those of newly built nuclear generation capacity, and by 2019 we expect them to achieve a lower cost price than that of any other type of newly built power generation capacity.