Study Predicts Solar Cost Parity and 10% of U.S. Electricity From Solar Power by 2025
Solar energy currently generates .1% of the electricity used in the U.S. According to a study released today, this will change rapidly as the cost of electricity increases and the cost of solar energy drops.
The Utility Solar Assessment Study produced by Clean Edge and Co-op America finds that solar energy is already reaching cost parity with conventional sources in some areas of the U.S. where electric rates are highest. By 2015, this will be achieved in many more areas, including Boston, San Diego, and New York. By 2025, cost parity will be achieved throughout the U.S.
The implications of this are huge. The U.S. solar photovoltaic market now relies heavily on state incentives to lower the cost of solar energy. Many people utilize solar energy because it is “the right thing to do” or businesses like the positive publicity solar brings. (more…)
