Solar now requires no more upfront capital than coal or gas to produce the same annual electricity, reversing a disadvantage that was as large as five-to-one a decade ago.
According to a new Ember analysis, a solar plant can now require less upfront investment than a coal or gas plant for the same amount of electricity delivered.
The total installed cost of solar PV has fallen by 87% since 2010, allowing it to become more competitive.
This shift is particularly important for emerging economies, where high borrowing costs and rapidly rising electricity demand hinder financing for new energy projects.
