From Electrek: Solar power cost down 25% in five months – “There’s no reason why the cost...

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On August 11 a bid of US$0.46/W was put forward to build 500MW of solar power in China (a roughly calculated levelized cost of electricity (LCOE) at $0.019/kWh). This past week we saw a bid of $0.023/kWh to build 1.2GW of solar power in Abu Dhabi. This price of $0.023/kWh is almost 25% lower than the $0.0299/kWh was bid in late April for a series of projects also in Abu Dhabi. These extremely aggressive price falls are partially driven by unique situations – a Chinese solar panel production glut and historically low costs of money. But also because of technology as Frank Wouters, the former director of Masdar Clean Energy, says, “We’re still learning how to further reduce the cost of solar cells and other components, as well as operation and maintenance costs. There’s no reason why the cost of solar will ever increase again.”

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