More solar price falls will lead to “insanely cheap” electricity by 2023 | RenewEconomy

Solar photovoltaic pioneer Professor Martin Green says solar module prices will continue to plummet, reaching 10 US cents per watt by 2023, around half their current prices, resulting in what he called “insanely cheap electricity.”

He said this would translate into power purchase agreements “routinely” worth just 1 cent per kilowatt hour. He said this is around one-fortieth of what Sydney residents like him are currently paying.

Speaking at the Smart Energy Council in Sydney, Green said this could lead to a massive proliferation of solar energy, which would pose a new problem: what to do with all the surplus solar-generated electricity when traditional demand is low?

More solar price falls will lead to “insanely cheap” electricity by 2023 | RenewEconomy