Solar companies won’t be able to compete on cost with traditional fossil fuels in Europe for another 11 years.
That comes via the European Photovoltaic Industry Association (EPIA), a trade group that’s laying out its rationale for solar companies to receive more government backing.
Without heavy investment in solar energy, the EU will never hit its targets of getting 20% of its energy from renewables, while also cutting emissions by 20%, says the EPIA.
Right now solar power is twice as expensive as fossil fuel based energy. The industry has cut costs in half every eight years and it if it continues on that pace, solar should reach grid parity by 2020.
The report only discusses panels, not solar thermal projects, which seem to be favoured by utilities for big projects in the U.S.
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