Solar power’s low cost is thrown into reverse

Impacting projects: The reversal in solar module prices threatens to delay projects and slow the uptake of solar power just as several major governments are finally throwing their weight behind it in an effort to slow climate change. — Bloomberg

A KEY selling point that made solar energy the fastest-growing power source in the world – rapidly decreasing costs – has hit a speed bump.

Solar module prices have risen 18% since the start of the year after falling by 90% over the previous decade. The reversal, fuelled by a quadrupling in the cost of the key raw material polysilicon, threatens to delay projects and slow the uptake of solar power just as several major governments are finally throwing their weight behind it in an effort to slow climate change.