McKinsey Report Predicts Solar will be cost competitive within a decade

Entitled Solar power: Darkest before the dawn, the report predicts that despite subsidy cuts, solar capacity globally will continue to grow as costs fall by an average of 10 percent annually until 2020.

"Our analysis suggests that by the end of the decade, costs could decline to $1 per watt peak (Wp) for a fully installed residential system," the report states. "But even if costs only fall to $2 per Wp, the industry is still likely to install an additional 400GW to 600GW of PV capacity between now and 2020."

 


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