"Renewables: a rising power": FT on solar cost reductions.

FT: “Until now, the idea that unsubsidised solar power could make enough financial sense to be competitive with conventional electricity has been largely confined to the realms of environmental campaigners and renewable energy advocates.” “However, as solar panels become more efficient and vastly cheaper, and household power bills keep rising, analysts at some of the world’s largest financial institutions say such a prospect is indeed possible – and likely to cause profound disruption in the energy industry.”
….Another global bank, UBS, says an “unsubsidised solar revolution” has begun that could eventually supply as much as 18 per cent of electricity demand in parts of Europe.
….Solar photovoltaic systems accounted for nearly 5 per cent of electricity generated there last year, up from 3 per cent the year before, according to BDEW, the German association of power generators. Renewable power, including wind and hydropower, took a 22 per cent share of generation last year while natural gas fell to 11 per cent from 14 per cent.
….Today there is more than 102GW and solar PV power has been the biggest source of new electricity generation for two years in a row in Europe. The industry predicts global capacity will double to 200GW by 2016.
….The lifetime cost of solar PV power fell below industrial power prices in Germany last year, IHS says, making it cheaper for businesses to install and use their own solar power instead of buying it from a utility. That some have done exactly that explains why even those worst hit by the industry’s woes remain optimistic.”