Technological Milestones Propel Solar Cost Reduction
China, a global leader in renewable energy, continues its impressive journey with a consistent decrease in solar power generation costs. This remarkable achievement is attributed to significant technological advancements and the resultant economies of scale.
Decade-Long Trends: Modules and Installed Systems Costs Plummet
The recently released “Technology Outlook on Wind and Solar Power toward China’s Carbon Neutrality Goal” underscores the substantial cost reduction in solar modules and fully installed solar systems over the past decade. From 2007 to 2022, the average cost of solar modules dropped from ¥36 ($5) to ¥1.95 per watt, showcasing a remarkable ten-year trend of continuous cost efficiency.
In parallel, the average cost for a fully installed solar system witnessed a significant reduction, standing at ¥4.13 per watt in 2022 compared to ¥60 per watt 15 years ago. This data exemplifies the impressive strides made in making solar energy more economically viable.
Future Projections: Sustained Decrease Anticipated
The report predicts a continued decline in costs until 2030, emphasizing the role of falling raw material prices for module production and the ongoing improvement in photovoltaic (PV) cell efficiency. By 2030, the cost for the module is expected to further decrease to ¥1.1 per watt, reinforcing China’s commitment to making solar power an increasingly affordable and sustainable energy source.
Source：chinadaily.com
