According to the European Photovoltaic Industry Association (EPIA), solar photovoltaic electricity has the potential to be fully competitive by 2020. Providing that the the correct regulatory standards and market conditions are set and that there is enough political commitment, PV modules could decrease by as much as 50%. Some market segments have even been predicted to be fully competitive by 2013.
The EPIA carried out a study of current European electricity markets, focusing on increasing conventional power prices and the continuing trend for PV as prices decrease. Findings from the study revealed that the French, German, Spanish, Italian and UK markets would be the first to reach grid parity where long-term electricity equates to the long-term cost of receiving traditional power over the grid. The next stage would be ‘generation value competitiveness’, whereby PV begins to appeal to investors, possible in Italy by 2014. Governments could best reach these goals by supporting the development of the technology and making the right measures to enable technology to gain market foothold in many countries.
According to researchers from China’s National Development and Reform Commission’s think tank, the Energy Institute, by 2012 the country is set to reach 2 GW of solar capacity which will have doubled since 2010 and by 2015 solar energy could be as cheap as cole provided sufficient funding is put in place. It was reported by China Daily that China produced 48% (13 GW) of the world’s solar panels in 2010.
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