Despite recent clashes between the US and Chinese solar industries, it seems that the entire solar power sector is prospering. As stated in a new report from GlobalData, with the ever-increasing number of solar power installations, the cost of energy generation is falling. In fact, it is falling so quickly that the report predicts that by 2017 it’ll be cheaper than generating power from traditional fossil fuels.
The report, which is called “Grid Parity for Wind and Solar Power – Future Outlook and Impact Analysis”, shows that the global solar PV capacity increased by 100% between 2009 and 2011. This figure is expected to soar as both China and the US reach grid parity within the next few years.
Read more: Solar Energy Generation Costs to Compete with Fossil Fuels by 2017 | Inhabitat - Sustainable Design Innovation, Eco Architecture, Green Building