Electricity Produced by Solar Power beats Electricity Produced by Fossil Fuel – on per MWh price!
Meeting electrical grid demand via solar power at a lower per MWh cost is now possible, when compared to meeting total demand from conventional electricity producers such as fossil fuel, nuclear or even hydro-electric power.
The WEF report notes that “utility-scale, thin-film solar PV plants produce cheaper power, on average, than new natural gas plants.”
A record low electricity price was achieved in Chile in August 2016. At $29.10 per MWh, solar electricity cost about half the price offered by a local coal competitor.
The cost of production of electricity through the utilization of solar energy is outpacing other alternatives, as the investment in solar panels is turning out to be comparatively cheaper than a comparable investment in coal, natural gas or other options, according to a new World Economic Forum report…