Solar power crushes its own record

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Solar power crushes its own record

Post by Deadpool on Sun Oct 22, 2017 2:25 am

for cheapest electricity ‘ever, anywhere, by any technology’
The lowest price for solar power last year is the highest price now.Prices for new solar power projects are falling so fast that the cheapest prices from 2016 have become the ceiling price for solar today.

In April 2016, Bloomberg New Energy Finance (BNEF) reported that the record low unsubsidized solar energy price was 3.6 cents per kilowatt-hour (kWh), in a March 2016 contract in Mexico.

This month, every single bid that Saudi Arabia received for its 300-Megawatt (MW) Sakaka solar project was cheaper than that.The lowest bid price was 1.79 cents/kWh. For context, the average residential price for electricity in the United States is more than six times that, 12 cents/kWh.

The jaw-dropping price of 1.79 cents is not about to become the new ceiling for solar bids — since the market conditions in Saudi Arabia are fairly unique and it’s not clear the bidder, Masdar (owned by the United Arab Emirates) and its French partner EDF would actually make money at that price.

But, still, seven of the eight bids were below three cents — and the two lowest bids were “the lowest prices ever recorded at a global level,” as PV magazine noted,

“We believe that the $0.03/kWh can be considered as a point of no return for the Middle East area given its big volume and low financing rate,” solar expert Aymen Grira told the magazine. In other words, three cents has become the new ceiling price for solar in the region.

What’s so remarkable about that is how quickly that ceiling has been lowered. As noted above, the lowest contracted price for new solar in March 2016 was 3.6 cents per kWh. Then in May, Dubai Electricity and Water Authority received a bid for 800MW at a 2.99 cents per kWh.

In August 2016, Chile signed a contract for 2.91 cents — and BNEF chair Michael Liebreich tweeted, “Solar power delivers cheapest unsubsidised electricity ever, anywhere, by any technology.”

Now, a little over a year later, Saudi Arabia received seven bids even cheaper than the “cheapest unsubsidised electricity ever, anywhere, by any technology.”

https://thinkprogress.org/stunner-lowest-price-solar-power-f3b620d04010/
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Re: Solar power crushes its own record

Post by Aspca4ever on Sun Oct 22, 2017 5:23 pm

Why - WHY - WHY, have we dragged our feet about this technology when back in the mid 80's we were able to expand and set this up for anyone & everyone in our residential/rural homes!  SMH
Fear & dependence upon the almighty GRID system that is archaic and so antiquated it's needs mega millions to upgrade.
Love'n this positive - I KNEW IT WAS TRUE, type of news!  cheers
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Re: Solar power crushes its own record

Post by victorismyhero on Sun Oct 22, 2017 6:30 pm

BACK IN THE 80'S aspca, solar pannels were only about 7-10% efficient, the change has been brought about by new materials and new manufacturing methods which have pushed that efficiency up to 20%, and I understand, possibly even higher. At this 20% point it is a financially viable technology, not only that but the increased interest in it means that more are manufactured and therefore the unit prioce falls dramatically.
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Re: Solar power crushes its own record

Post by Aspca4ever on Sun Oct 22, 2017 6:53 pm

victorismyhero wrote:BACK IN THE 80'S aspca, solar pannels were only about 7-10% efficient, the change has been brought about by new materials and new manufacturing methods which have pushed that efficiency up to 20%, and I understand, possibly even higher. At this 20% point it is a financially viable technology, not only that but the increased interest in it means that more are manufactured and therefore the unit prioce falls dramatically.
WOW, never let it go 'UNSTATED' that you are always able to post the obvious ...DUHHHH.

Needless to say - and it goes without having to STATE the GLARING OBVIOUS; that our technology {making the raw material cheaper/easier to use/faster to obtain yada-yada-yada}  No

And perhaps, our aging moss back humans finally realizing that gross dependency upon fossil fuels and that gross - smog belching coal fired power plants needs an END DATE.  Twisted Evil
We've received tracked hacking attempts against our electrical grids - known bullet holes showing up in those sub stations located around our country and with the many natural disasters that have struck my country just in this past year alone!  pale   Future rate increase that few will be able to afford.
Miles & miles of above ground electrical wire have been destroyed and now need replaced ...there's no money; according to those utility company's and they will be asking for 'BIGLY' rate increases to justify those expenditures!
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Re: Solar power crushes its own record

Post by victorismyhero on Mon Oct 23, 2017 7:10 pm

I was merely pointing out that in the 80's this was not a viable technology, interesting perhaps and useable for a few insignificant projects where the efficiency was unimportant and the huge cost per watt not an issue (thinks govt and space projects)Now it almost possible for a home owner to have enough cells on their lot to provide all their needs (depending on lattitude) I have cells on roof and shed rooofs,(along with batteries and invertors) and can supply ALL our power needs during some 2/3rds of the year and about 40-50% of it over winter (depending on how overcast it is....)

it may interest you to know that the CAPITAL cost per watt for a solar pannel has fallen to about 50c per watt from almost 10$ per watt in 1985, and the cost of the necessary peripherals (batteries/invertors/control gear has fallen almost as much.
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