As fuel prices for coal, natural gas and nuclear continue to rise, the cost of solar power is due to break even with fossil fuels in the US by 2015, according to a study published in June 2008.
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The studyPdf external , compiled by clean-tech research and publishing firm Clean Edge and green-economy non-profit Co-op America, predicts that the cost of energy produced from solar photovoltaic cells will decline from today's average of $6 per peak watt to an average of just $1.5 in 2025. This, together with the advantages of solar energy (zero carbon-based emissions, energy delivered at source, zero fuel costs), should make solar a "ubiquitous" energy source in the future, says the study.
The EU has set itself a target of producing 20% of its energy from renewable sources by 2020, although no specific commitments on solar have been included. Studies indicate the contribution made by solar to be modest, with the European Renewable Energy Council suggesting it will contribute little more than 1% by 2020 (EurActiv 20/06/07).
See full Press Release.
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