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Solar Prices to Reach $1 per Watt Target 3 Years Early
Good news!!!
In 2010, the U.S. Department of Energy made a goal of reaching an installed price of $1 per watt for solar energy, which would make it highly competitive with electricity generated from fossil fuels. The goal was to reduce the cost of large-scale solar systems from projections of around $3.50 per watt in 2010 to the $1 mark by 2020.
A reduction in cost of 71% in a decade seemed like a stretch five years ago, but industry leader First Solar (NASDAQ:FSLR) says it will hit $1 per watt in 2017, three years ahead of schedule. First Solar is one of the most popular solar stocks among hedge funds.
Good news!!!