[Energy people are watching, click on the upper right corner to add 'Follow'] Polaris Solar Photovoltaic Network News: According to the latest report from international research institution Wood Mackenzie, in the past two decades, the cost of solar energy has increased It's down

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Polaris Solar Photovoltaic Network News: According to the latest report from the international research institution Wood Mackenzie, in the past two decades, the growth of solar energy Costs have already fallen by 90% and may fall another 15% to 25% over the next decade. By 2030, solar energy will be the cheapest new energy source in every U.S. state, as well as in Canada, China and 14 other countries.

Ravi Manghani, research director at Wood Mackenzie, said: “As the world strives to recover from the economic downturn caused by the Covid-19 pandemic while meeting the climate and environmental goals of the Paris Agreement, solar energy is playing a key role in promoting low carbon emissions. It has a unique role. "

Solar energy is already the cheapest new energy power generation method in 16 states in the United States and in countries and regions such as Spain, Italy and India. Even with the Covid-19 pandemic, global installations exceeded 115 gigawatts (GW) in 2020, compared with 1.5 GW in 2006.

While solar's growth to this magnitude has been driven in part by government subsidies and environmental goals, solar power is now attractive on price alone. “Solar is becoming increasingly competitive not only as a means of decarbonizing for corporate buyers, but also as a way to reduce corporate energy costs.”

Over the next decade, Wood Mackenzie ( Wood Mackenzie expects the market to further reduce costs through the development of bifacial panels, larger solar modules, and solar tracking technology.

Wood Mackenzie stressed that its outlook only takes into account technological improvements that are already well underway in the commercial development pipeline. These forecasts do not assume any breakthroughs in next-generation solar technology or other innovations, which could provide further upside to the outlook.

also expects operating costs to decline over the next decade. Technologies already widely used in the wind power industry, such as the use of drones and thermal imaging for inspections, as well as the development of technologies such as artificial intelligence, will make operations more efficient.

But Wood Mackenzie cautioned that the industry was not without risks for some players. As costs fall and solar capacity increases, wholesale prices are also likely to fall, reducing profitability. Still, falling prices will allow solar to displace coal and other more expensive technologies and increase its market share.

Original title: Solar energy costs are expected to drop by another 15%-25% in the next ten years

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