Tony Hayward, BP’s CEO, says solar power needs a technological break through before it will be competitive will standard sources of energy.
Speaking at a conference in California yesterday, he said (via the Financial Times) “I think solar is probably the most challenged of all of BP’s alternative energy interests,” and “It is not going to make the transition to be competitive with more conventional power, the gap is too big.”
BP saw solar panel sales drop by half in Q109, and plans on reorganising its solar division.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.