US solar power installed costs on course for 2020 target

[Benton D Struckcheon]

The installed cost of US solar power has fallen quarter by quarter for the past three years, putting them on course for an ambitious 2020 target, show the world’s most comprehensive cost data.
Installed costs fell 27% in the first three months of this year alone, compared with the corresponding quarter last year, shows an RTCC analysis.
The country is on track to achieve a very ambitious target, set by the previous administration under US President Barack Obama, to slash solar costs by the end of the decade, under a so-called “SunShot Initiative”.
...
The NREL cost data show that on the current trajectory, US solar power will achieve the 2020 target. However, that assumes continuing cost reductions which have recently benefited from a global glut in solar modules, as a result of Chinese over-capacity.
Further solar power cost cuts will have to reduce so-called soft costs, including labour and financing.

Link: http://www.rtcc.org/2014/04/30/us-solar-power-installed-costs-on-course-for-2020-target/

[grahamhgreen]

1. Fantastic! No Nukes!