May 16 (Reuters) – Solar panels were cheaper than wind turbines for the first time last year in certain markets, per unit of capacity, and are rapidly closing a remaining gap in the full cost of power generation.
Until now, wind power has been the leading low-carbon alternative to oil, coal and gas, outside large niche markets such as Germany, which has seen a huge ramp-up in installed solar.
But that could change, with deep implications for the health of both industries if one substitutes the other.
As soon as this year, solar could for the first time surpass wind in annual global installed capacity, given an expected contraction in the wind market.
Written by Gerard Wynn. To read the full article, click here