Solar PV Price Models Outdated

Canada's Queen's University Department of Mechanical and Materials Engineering Professor Joshua Pearce stated that current price models of solar photovoltaic panels are already outdated thus projected price ranges are far higher what the trend is actually projecting.

Professor Joshua Pearce added that older price models do not consider recent advances, breakthroughs and innovations in the solar industry which is responsible for the continued drop in solar power prices resulting to a false price projection. Pearce said that solar power is nearing its tipping where it will soon par with traditional energy sources like the dirty and exhaustible coal.

Since 2009 solar pv prices have fallen almost 70% and the technology’s productivity only decreases by around 0.1 to 0.2% and remains in an acceptable level given the significant price reduction, far less than the 1% that is projected in some analytic studies. Pearce strongly stated that price models and market analysis should consider all factors in the industry to keep the public well informed and provide a diverse and holistic report.

Pearce statements are indeed factual, solar PV prices have fallen drastically thanks to various manufacturing advances and discovery of cheaper yet better material which made solar power more viable and one of the fastest  growing industry worldwide.

Pearce has released a new calculator model that will determine the true price range of solarpower considering all aspects in the industry in real time updates.

In Australia, PV prices have fallen significantly, in fact certain parts of Queensland and New South Wales claimed to have achieved grid parity and will soon be achieved nationally in a year or two, according to Clean Energy Council, Kane Thornton.

Australia wide, solar power use has increased by some 35 folds since 2008 equivalent to 1.2 million people depending on solar for energy needs based on the Clean Energy Council’s recent report. The rapid market growth, is primarily because of the falling cost of solar power systems which is expected to hit record high as soon as the Clean Energy Future Package of the Gillard administration is implemented mid next year.

The package includes hefty government funding for solar power research and development, emerging renewable energy technologies and large scale solar power integration which according to PM and the GREENS will bring true grid parity.

Facts only show that renewable energy specifically solar power will be an essential factor in Australia future and carbon neutrality ambitions.