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True value solar Blog

How competitive is solar power?

There has often been a misconception that solar power is not able to compete with traditional fossil fuel generated electricity. However, a recent article from PV Magazine may show otherwise. Research conducted by NPD Solarbuzz had shown that solar photovoltaic module prices fell 46 per cent from 2010 to 2011, and the price of these solar panels are predicted to continue to fall a further 29 per cent by the end of this year.

With many players in the solar power market, it has motivated different companies to compete in creating solar panels and at a higher efficiency and lower cost. Further to this, as the availability of fossil fuels reduce, the cost of extracting them become higher, leading to a rising cost for them and a reduction in price competitiveness. As a result, it can be argued that there is potentially a great future for solar power.

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