Large-scale Solar PV in the UK will be cheaper than gas before 2018, according to a report published by the Solar Trade Association.
The report, Cost reduction potential of large-scale Solar PV, shows the Levelised Cost of Electricity (LCOE) of solar from 2014-2030. The data was compiled using using costs provided to the association by its members.
The analysis shows that large-scale solar deployment will achieve drastic cost reductions over the coming years. The STA calculates that large-scale solar will achieve a 33% drop in costs by 2020, with a further 11% reduction from 2020-2030.
The predicted cost reduction would see PV beat gas on price by 2018 – five years earlier than DECC modelling suggests. The cost reduction curve would also see solar-generated electricity become cheaper than wholesale electricity between 2025 and 2028.
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