Tag: solar trackers

Technology Advancements To Lower Solar Power Costs Over Long Term

The cost of solar power has declined significantly over the past decade, with the Levelised Cost of Energy (LCOE) for solar falling from a weighted average of USD378/MWh USD248/MWh in 2010 to USD68.4/MWh in 2019. According to financial advisory and asset management firm Lazard, the LCOE for utility-scale solar power reached USD36/MWh in 2021. The steep decline is the result of several factors including a rapid decline in module costs, increased competition, and economies of scale from significant growth globally.

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