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Renewable Energy

Solar now delivers cheapest electricity:
"ever, anywhere & by any technology"

by Joe Romm

Chile_solar_PV.jpeg
Chile installed more than 1000 Megawatts of solar this year 

Chile has just contracted for the cheapest unsubsidized power plant in the world.
 
In August 2016, the South American country accepted a bid from Spanish developer Solarpack Corp. Tecnologica for 120 megawatts of solar at the stunning price of $29.10 per megawatt-hour (2.91 cents per kilowatt-hour or kwh). This beats the 2.99 cents/kwh bid the Gulf state of Dubai received recently for 800 megawatts. To put this in context, the average residential price for electricity in the United States is 12 cents per kilowatt-hour.

“Solar power now delivers the cheapest unsubsidised electricity ever, anywhere, by any technology.” commented BNEF Chair Michael Liebreich after the Chile contract was announced.

Carlos Finat, head of the Chilean Renewable Energies Association (ACERA) stated that the auction is “a strong warning sign that the energy business continues on the transition path to renewable power and that companies should adapt quickly to this transition process.” Indeed, in the same auction, the price of coal power was nearly twice as high!

Grid-connected solar power on Chile has quadrupled since 2013. Total installed capacity exceeded 1,000 megawatts this year?—?the most by far in South America. Another 2,000 megawatts is under construction, and there are over 11,000 megawatts that are “RCA Approved” (i.e. have environmental permits).

Chile is aided by the fact that its Atacama desert is “the region with the highest solar radiation on the planet,” according to the Inter-American Development Bank. So much solar is being built in the high-altitude desert that Northern Chile can’t use it all, and the government is rushing to buildnew transmission lines.

Chile is part of a global trend where solar energy has doubled seven times since 2000. In the U.S. alone, it has grown 100-fold in the past decade thanks to a sharp drop in prices that has brought the cost of solar (with subsidies) to under four cents a kilowatt hour in many places.

The future for solar could not be sunnier.

◊ Publ. here 26.8.2016


 

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