Thursday, March 7, 2013

Solar Shakes Energy World As Deutsche Bank Boosts 2013 Global Solar Build To 30,000 Megawatts & Finds Solar Competitive With Grid Power In Italy and India

Deutsche Bank raises its 2013 global solar build to 30,000 megawatts for an energy world shaking reason.

Deutsche Bank finds that solar power is now cost competitive with electricity from the grid in India and Italy. It further concludes that solar will be cost competitive with electricity from the grid during 2014 in more parts of the world.

When solar becomes first cost competitive with grid power and then cheaper than grid power, solar shakes the energy world. It becomes creatively destructive like shale gas.

In the US, distributed solar today is competitive with grid power in about 20% of utility service territories.  Not too surprisingly, as solar becomes competitive with grid power in more places around the world, the amount of solar installed climbs. 

Paradoxically, falling solar costs are leading to thriving solar installation markets, even as falling prices create a battle for survival among solar manufacturers. To advance their view that solar is a failed industry, Fox News, the Wall Street Journal editorial page, and the like focus on the bankruptcies in solar manufacturing, while ignoring the record breaking solar installation numbers in the USA and around the world.

In fact, solar power is rising around the world, as solar prices increasingly first reach grid parity and then become cheaper than power from the grid in more and more places.

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