Solar could be a fully competitive energy source in Europe by 2020, according to a new study. The European Photovoltaic Industry Association (EPIA) claims that “impressive” cuts to the price of technology over the last 20 years could see competitive prices in some European markets such as Italy as early as 2013.
Having government support with the right regulatory framework, such as with subsidies like Feed-in Tariffs (FiTs) as well as good market conditions would help, said the EPIA. The European industry body looked at five electricity markets – France, Germany, Italy, Spain and the UK – to make their analysis.
Ingmar Wilhelm, EPIA President said: “In the coming years [solar] is going to get even cheaper thanks to ever-improving technology and economies of scale. As also the price of electricity from conventional sources increases, solar PV will be become a fully competitive part of the energy mix.”