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February 2, 2012

Falling solar prices good for climate, bad for firms


(Reuters) - There is a bright side to the plunge in solar panel prices that has brought down some U.S. and German manufacturers which relied too heavily on subsidies for green energy - solar power costs have fallen faster than anyone thought possible.

 

The falls in prices for photovoltaic components, pushed down by economies of scale and fierce competition from China, have made solar nearly as cheap as conventional sources in Germany's electricity grid.

 

The boom in Germany, the world's biggest photovoltaic market with 24,000 megawatts of installed capacity, has also helped to drive down costs worldwide, making solar a more viable and accessible alternative to fossil fuels in places ranging from India and the Middle East to Africa and North America.

 

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Source: Reuters By Erik Kirschbaum


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