Solar to Reach Grid Parity by 2020

Solar electricity (PV) is expected to reach grid parity by 2020, according to Navigant Research's most recent "Solar PV Market Forecasts." The article states that prices will be cost-competitive with retail electricity without subsidies by 2017. Solar costs are expected to continue to drop internationally, causing installations and the industry to continue to skyrocket.

Navigant predicts that module costs will continue to fall between 3-8% annually, reaching an average of $1.50-$2.19 per watt globally by 2020. Navigant also foresees solar PV capacity increasing from this year's 35.9 gigawatts to 73.4 gigawatts in 2020. Dropping costs, and available rebates and tax credits have made solar appealing to, and affordable for all social classes, as well as developing nations.

At the rate solar PV is soaring across the globe thanks to dropping costs and increasing technology, it will not be long before grid parity is reached especially with the high-cost of today's retail electricity.  And solar WILL be the next disruptive technology when grid parity is ultimately reached. 

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