PV electricity is cheaper than many people think. In the coming years the technology will become even more cost-effective and competitive — and qualify therefore as a vital part of Europe ’s energy future. Under the right policy and market conditions, PV competitiveness with grid electricity can be achieved in some markets as early as 2013, and then spread across the continent in the different market segments by 2020.
Over the last 20 years, PV has already shown impressive price reductions, with the price of PV modules decreasing by over 20% every time the cumulative sold volume of PV modules has doubled. System prices have declined accordingly; during the last 5 years a price decrease of 50% has been achieved in Europe . System prices are expected to decrease in the 10 coming years by 36-51% depending on the segment. Importantly, there is a huge potential for further generation cost decline: around 50% until 2020. The cost of PV electricity generation in Europe could decrease from a range of 0.16-0.35 Euros/kWh in 2010 to a range of 0.08-0.18 Euros/kWh in 2020 depending on system size and irradiance level.
(Source: www.epia.org)
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