A study by scientists from the University of Surrey in the UK showed that by 2035, photovoltaic systems can become cheaper by 50%.
The LCOE for small projects and utility PV systems could drop to $187/MWh and $63.5/MWh, pv magazine reports.
In 2020-2021, large-scale PV systems were already cheaper than wholesale electricity in 2021, the researchers said. In the most optimistic scenario, the LCOE for large PV systems in the UK could be as low as $21/MWh.
According to their projections, the cost of generating electricity from small PV systems will fall below the wholesale price of electricity by around 2027.
"At this level, it can be expected that many households and businesses will want to install even small solar photovoltaic panels to reduce their electricity costs and promote environmental awareness," the researchers said.
In 2020 the capacity of SPPs in Great Britain reached 13.5 GW, thanks to which the country took 10th place in the world and third in Europe. According to researchers, solar capacity will increase to 21 GW in 2025 and to about 29 GW in 2030.
Earlier, EcoPolitic wrote, that in Great Britain, wind energy projects worth $25 billion may not be implemented without further help from the government.
As EcoPolitic previously reported, the annual climate report of the Copernicus program showed that climate change increases the potential of solar energy production in the EU. This can stimulate the production of green energy in countries that are not traditionally considered to be rich in solar resources.
