22.11.2012: Photovoltaics (PV) will soon reach grid parity with residential electricity tariffs in many markets around the world, according the latest report from the International Renewable Energy Agency (IRENA). In its “Renewable Power Generation Costs” report, IRENA concludes: “PV costs are declining rapidly due to high learning rates for PV modules and the very rapid deployment currently being experienced. If these trends continue, grid parity with residential electricity tariffs will soon be the norm, rather than the exception.” IRENA also notes that PV has an advantage over other generation technologies because of its flexibility: “Once the domestic installation market is developed, solar PV installations can be ramped up rapidly to meet policy goals or electricity sector needs, no other power generation technology shares this flexibility.” The report finds that the levelized cost of electricity for wind, concentrating solar power and some biomass technologies is also declining rapidly. Hydropower, however, still offers the cheapest electricity of any renewable energy technology. Source: International Renewable Energy Agency http://www.irena.org/News/Description.aspx?NType=A&PriMenuID=16&mnu=Pr
i&News_ID=262 http://www.irena.org/DocumentDownloads/Publications/Renewable_Power_Ge
neration_Costs.pdf The complete press release can be viewed in PHOTON's archive using the following link:
http://www.photon-international.com/newsletter/document/71957.pdf | 
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