Statkraft highlights solar PV as the world’s fastest-growing energy source in its fourth annual analysis of global energy trends.

This is heartening news for the UK’s solar industry. Solar now stands on its own feet without the need for subsidies. Capex is down and the value of the precious, green electrons is up!

Solar’s new dawn has surely broken and at Boston Renewables we are delighted for solar to receive recognition and credibility from an industry giant such as Statkraft.

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“The lifetime costs for solar PV will drop by around half over the next three decades, while wind will become 40% cheaper.

The company estimated that solar PV and wind energy will make up 70% of power generation by 2050; Renewables making up over 80% of the global power sector in total.

Statkraft’s head of corporate strategy and analysis, said: ‘Our analysis shows that the price of renewable technologies decreases faster than most people have anticipated.

‘In most countries, it is already profitable to install renewable capacity where new power is required. In areas with abundant sun and wind, building new renewable capacity will soon become more profitable than coal or gas power.’” [Read more here]