Newswise — Solar energy pricing is at an all-time low, according to a new report released by Lawrence Berkeley National Laboratory (Berkeley Lab). Driven by lower installed costs, improved project performance, and a race to build projects ahead of a reduction in a key federal incentive, utility-scale solar project developers have been negotiating power sales agreements with utilities at prices averaging just 5¢/kWh. These prices reflect receipt of the 30% federal investment tax credit, which is scheduled to decline to 10% after 2016, and would be higher if not for that incentive. By comparison, average wholesale electricity prices across the United States ranged from 3 to 6 cents/kWh in 2014, depending on the region.
Key findings from Berkeley Lab’s latest \”Utility-Scale Solar\” report – which each year draws upon large volumes of empirical data to identify key trends in project costs, performance, and pricing among ground-mounted solar projects larger than 5 megawatts (MW) – include the following:
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