This report has been prepared by KPMG, the UK member firm, at the request of the Renewable Energy Association to assess the continuing cost reductions of solar photovoltaics (PV) in the UK and propose a few policy options that can enable the transition to a sustainable, subsidy-free PV industry.
This report details solar’s impressive cost reduction in the past decade and models different scenarios to grid parity in the next five years, enabling the industry to continue to develop as direct subsidies are gradually phased out.
Key findings include:
- PV is the most popular renewable energy in the UK and its deployment is rising rapidly.
- PV is becoming the most competitive new build renewable technology.
- The 20 GW deployment scenario in 2020 offers lower cost per additional MWh.
- PV will be the first renewable technology to achieve “grid parity”.
- Phasing out subsidies for PVrequires a transition plan to avoid a “cliff edge”.
- Category: Solar Industry Reports
- Source: Renewable Energy Association (REA)
- Publication Date: 07/2015
- Country: United Kingdom
- Language: English