星期五, 11 7 月, 2025
Home PV News Cost-efficiency gains to shelter solar from pandemic setbacks

Cost-efficiency gains to shelter solar from pandemic setbacks

Despite claims that solar development would be setback by the COVID-19 pandemic, cost-efficiency gains will continue, according to thinktank IEEFA.

A new report by the group states that the “dramatic” declines in the cost of solar will continue, optimistically pointing to the 90% fall of solar module prices between 2010 (US$2 per watt) and 2020 (US$0.17-0.2 per watt).

This contrasts with a less buoyant forecast presented by the International Energy Agency (IEA) in May.

“IEEFA draws a conclusion completely at odds with what the IEA is saying, notably that COVID-19 is a setback for the inevitable technology-driven trends of deflationary renewables,” the report said, adding: “We see increased stranded thermal asset risks.”

It suggests that for years the IEA has failed to truly take into account the falling cost of modules as a major trend in the industry. “IEEFA also expects the IEA to continue to be surprised every year over the coming decade at the speed of ongoing technology-driven deflation and hence the rate of uptake of renewable energy, electric vehicles and battery storage,” the report goes on to say.

So far this year, the IEA has maintained a cautiously optimistic outlook on renewables’ post-COVID prospects. In late May, the agency said the pandemic would “hurt” green energy growth – with solar roll-out set to decline this year from 106GW-plus to 90GW – but “not halt” it.

A further report from the agency suggested that COVID-19 will cause an ‘unparalleled decline’ in energy investment, with global spending in the power sector expected to fall by 10% in 2020.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

India will add 8,500 MWh of storage within the next two years

India Central Electricity Authority Chairperson Ghanshyam Prasad said on Wednesday that 3,300 MW of Battery Energy Storage System (BESS) projects are in the pipeline...

Coal giant snaps up solar thermal project in landmark deal for long duration storage technology

AGL, Australia’s biggest coal generator, has snapped up a newly approved solar thermal project in South Australia, adding to its options for long duration...

Al Kharsaah: A Pioneering Solar Power Plant in Qatar

Located 80 km west of Qatar's capital, Doha, the Al Kharsaah Solar PV Independent Power Producer (IPP) project is the country's first large-scale solar...

OMV Petrom Buys 50 Pct Stake in Gabare Solar Project

OMV Petrom S.A. has acquired a 50 percent stake in the Gabare solar project from Enery Element, a large-scale project in Byala Slatina, near...