15-09-2023 · Product video

Shining bright: Solar's remarkable cost transformation!

The cost to produce solar power has declined by ~90% since 2000 – from USD 5 per watt-peak (WP) to around USD 0.50 today. This cost improvement is the result of advancements in technology, as well as operational efficiency from scaled-up production. For many years, solar power was reliant on subsidies to be price-competitive with fossil fuels. Thanks to the cost improvements and, at the same time, the rising price of fossil fuels, today solar (together with onshore wind) is one of the cheapest sources of power generation.

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