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Solar power needs a more ambitious cost target

Author

Listed:
  • Varun Sivaram

    (Varun Sivaram is at the Council on Foreign Relations, 1777 F Street NW, Washington DC 20006, USA.)

  • Shayle Kann

    (Shayle Kann is at GTM Research, 2 Liberty Square, Floor 2, Boston, Massachusetts 02109, USA.)

Abstract

Solar power is increasingly economical, but its value to the grid decreases as its penetration grows, and existing technologies may not remain competitive. We propose a mid-century cost target of US$0.25 per W and encourage the industry to invest in new technologies and deployment models to meet it.

Suggested Citation

  • Varun Sivaram & Shayle Kann, 2016. "Solar power needs a more ambitious cost target," Nature Energy, Nature, vol. 1(4), pages 1-3, April.
    • Handle: RePEc:nat:natene:v:1:y:2016:i:4:d:10.1038_nenergy.2016.36
    DOI: 10.1038/nenergy.2016.36
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    Cited by:

    1. Moner-Girona, M. & Solano-Peralta, M. & Lazopoulou, M. & Ackom, E.K. & Vallve, X. & Szabó, S., 2018. "Electrification of Sub-Saharan Africa through PV/hybrid mini-grids: Reducing the gap between current business models and on-site experience," Renewable and Sustainable Energy Reviews, Elsevier, vol. 91(C), pages 1148-1161.
    2. Bistline, John E.T. & Brown, Maxwell & Siddiqui, Sauleh A. & Vaillancourt, Kathleen, 2020. "Electric sector impacts of renewable policy coordination: A multi-model study of the North American energy system," Energy Policy, Elsevier, vol. 145(C).
    3. Wafaa Saleh & Shekaina Justin & Ghada Alsawah & Tasneem Al Ghamdi & Maha M. A. Lashin, 2021. "Control Strategies for Energy Efficiency at PNU’s Metro System," Energies, MDPI, vol. 14(20), pages 1-13, October.
    4. Xu, Jiuping & Wang, Fengjuan & Lv, Chengwei & Huang, Qian & Xie, Heping, 2018. "Economic-environmental equilibrium based optimal scheduling strategy towards wind-solar-thermal power generation system under limited resources," Applied Energy, Elsevier, vol. 231(C), pages 355-371.
    5. Brändle, Gregor & Schönfisch, Max & Schulte, Simon, 2021. "Estimating long-term global supply costs for low-carbon hydrogen," Applied Energy, Elsevier, vol. 302(C).
    6. Mills, Andrew & Wiser, Ryan & Millstein, Dev & Carvallo, Juan Pablo & Gorman, Will & Seel, Joachim & Jeong, Seongeun, 2021. "The impact of wind, solar, and other factors on the decline in wholesale power prices in the United States," Applied Energy, Elsevier, vol. 283(C).
    7. Ruhnau, Oliver, 2022. "How flexible electricity demand stabilizes wind and solar market values: The case of hydrogen electrolyzers," Applied Energy, Elsevier, vol. 307(C).
    8. Nemet, Gregory F. & O'Shaughnessy, Eric & Wiser, Ryan & Darghouth, Naïm R. & Barbose, Galen & Gillingham, Ken & Rai, Varun, 2017. "What factors affect the prices of low-priced U.S. solar PV systems?," Renewable Energy, Elsevier, vol. 114(PB), pages 1333-1339.
    9. Femke J. M. M. Nijsse & Jean-Francois Mercure & Nadia Ameli & Francesca Larosa & Sumit Kothari & Jamie Rickman & Pim Vercoulen & Hector Pollitt, 2023. "The momentum of the solar energy transition," Nature Communications, Nature, vol. 14(1), pages 1-10, December.
    10. Bhattarai, Utsav & Maraseni, Tek & Apan, Armando & Devkota, Laxmi Prasad, 2023. "Rationalizing donations and subsidies: Energy ecosystem development for sustainable renewable energy transition in Nepal," Energy Policy, Elsevier, vol. 177(C).
    11. Nemet, Gregory F. & O’Shaughnessy, Eric & Wiser, Ryan & Darghouth, Naïm & Barbose, Galen & Gillingham, Ken & Rai, Varun, 2017. "Characteristics of low-priced solar PV systems in the U.S," Applied Energy, Elsevier, vol. 187(C), pages 501-513.
    12. Tunç Durmaz & Aude Pommeret & Ian Ridley, 2017. "Willingness to Pay for Solar Panels and Smart Grids," MITP: Mitigation, Innovation and Transformation Pathways 257879, Fondazione Eni Enrico Mattei (FEEM).
    13. Ahmad Murtaza Ershad & Robert Pietzcker & Falko Ueckerdt & Gunnar Luderer, 2020. "Managing Power Demand from Air Conditioning Benefits Solar PV in India Scenarios for 2040," Energies, MDPI, vol. 13(9), pages 1-19, May.
    14. David Talavera-Zabre, 2022. "Market-value of Renewables in the Young Mexican Power Market," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 17(4), pages 1-27, Octubre -.
    15. Yang, Ying & Campana, Pietro Elia & Yan, Jinyue, 2020. "Potential of unsubsidized distributed solar PV to replace coal-fired power plants, and profits classification in Chinese cities," Renewable and Sustainable Energy Reviews, Elsevier, vol. 131(C).
    16. Walsh, Michael J. & Gerber Van Doren, Léda & Shete, Nilam & Prakash, Akshay & Salim, Usama, 2018. "Financial tradeoffs of energy and food uses of algal biomass under stochastic conditions," Applied Energy, Elsevier, vol. 210(C), pages 591-603.
    17. Chong, Shijia & Wu, Jing & Chang, I-Shin, 2024. "Cost accounting and economic competitiveness evaluation of photovoltaic power generation in China —— based on the system levelized cost of electricity," Renewable Energy, Elsevier, vol. 222(C).
    18. Ruhnau, Oliver, 2020. "Market-based renewables: How flexible hydrogen electrolyzers stabilize wind and solar market values," EconStor Preprints 227075, ZBW - Leibniz Information Centre for Economics.

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