Friday, 11 February 2011

Solar power is now cheaper than nuclear, researchers say

The power generation business has changed so much over the last decade that electricity generated from solar energy will be cheaper than electricity generated from the proposed new nuclear plants according to a leading UK power supplier and US researchers.

"The cost of generating power from solar photovoltaic (PV) systems has steadily fallen over the last ten years while the projected costs of constructing the new nuclear plants have ballooned," said Ken Moss, CEO of mO3 Power company.

"The cost of producing and installing PV cells has been steadily dropping for some years," he said. "A PV system now costs about half of what it did in 1998."  The average price of a PV module in 2010 was $1.50/kW and by mid- year that figure is expected to drop to a maximum of $1.10kW.

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