Solar power crushes its own record for cheapest electricity ‘ever, anywhere, by any technology’

In April 2016, Bloomberg New Energy Finance (BNEF) reported that the record low unsubsidized solar energy price was 3.6 cents per kilowatt-hour (kWh), in a March 2016 contract in Mexico.
The lowest bid price was 1.79 cents/kWh. For context, the average residential price for electricity in the United States is more than six times that, 12 cents/kWh.

The jaw-dropping price of 1.79 cents is not about to become the new ceiling for solar bids — since the market conditions in Saudi Arabia are fairly unique and it’s not clear the bidder, Masdar (owned by the United Arab Emirates) and its French partner EDF would actually make money at that price.

via Solar power crushes its own record for cheapest electricity ‘ever, anywhere, by any technology’ – ThinkProgress