The Facts
- Capital and project development costs are falling
- PV project costs are forecast to drop by more than 50% by 2025- from the current range of $300 - $410 per megawatt–hour (MWh) to a range of $146 - $200 per MWh.
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- Already, the cost of solar PV and solar thermal is market competitive at peak demand times.
- Despite a weak global economy, markets have grown rapidly in response to higher demand.
- The PV sector installed 62 megawatts-peak (MWp) in new annual capacity in 2009, up almost ninefold over 2008.
- From 2000 to 2009, solar thermal expanded at a compound annual growth rate of 20%, to about 260 megawatts thermal (MWth) from 20 MWth.
- The industry is creating new, high technology jobs.
- Approx. 3,000 jobs have been created to date, by 2025 the industry expects to support more than 35,000 jobs.