India and Italy Solar Power has Reached Grid Parity!

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Source: http://www.flickr.com/photos/7718908@N04/5916982848/sizes/l/in/photostream/

A recent report from Deutsche Bank concludes that solar power has now reached grid parity in India and Italy, meaning that it costs the same as electricity from the power grid. The goal of the Indian government is to produce 20 GW of solar by 2022.

This report also estimates that by next year many more countries will also reach grid parity. The German bank has also increased its solar demand forecast for this year by 20% because of strong demands in places like India, the U.S., China (around 7 to 10 GW), the U.K. (around 1 to 2 GW), Germany and Italy (around 2 GW).

While China is already the biggest producer of solar, it is expected to become the world’s biggest solar market this year. There’s also progress with big concentrating solar farms, even though the big drop in solar PV prices has made them relatively less attractive than they used to be. The current biggest CSP plant has started operations in the UAE, and an even bigger solar CSP farm is under construction in the Mojave desert in the US. Brightsource Energy is in the process of completing its massive Ivanpah concentrating solar power (CSP) plant in the Mojave desert, making it the largest in the world. The rapid growth of solar power is promising for many more countries to be successful in reading grid parity. 

Source: Solar power has reached grid parity in India and Italy by Michael Graham Richard, April 8, 2013

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