Will solar power cost less than grid power soon?
This year might finally be it! 2008 will most-likely see the price of solar energy become cheaper than the price for the grid power we've become accustomed to all of these generations. It's a two-fold reason. First, the price of solar components are plummeting as demand increases the supply, plus the price of grid-system electric is skyrocketing.This of course will cause a snowball effect as more people will take advantage of these lower prices. The cost of solar components are set to drop by next year from about $3.80 per watt to about $1.40 a watt. Germany, which is the biggest market for solar energy with nearly half of world demand, will single-handedly cut subsidies by 7 percent next year.
"There's a double-whammy coming of subsidy cuts and supply pressures," said Tim Arcuri, an analyst at Citigroup. The solar power business is bracing itself for a shake-out as the price plummet begins.
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