26 Sep '11, 9pm

Chu: Solar Power on Track For Cost Parity With Fossil Fuels

Chu: Solar Power on Track For Cost Parity With Fossil Fuels

R&D is key to Chu’s vision because technological advances can drive costs down, as evidenced by solar power’s march to cost parity. “Its’ price has come down 50 percent in the last five or six years, it’s going to come down by another 50 percent, and we think there’s a chance it could come down by 70 percent,” he said. “At that point, you’re talking about wholesale electricity at utility scale, at 6 or 7 cents levelized cost per kilowatt hour – that’s as much as you would have to spend for any fossil fuel plant without subsidy.”

Full article: http://cleantechnica.com/2011/09/26/chu-solar-power-on-tr...

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