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Solar Energy Reaches Grid Parity in India and Italy

Posted By Lori Zimmer On April 8, 2013 @ 5:36 pm In News,Renewable Energy,Solar Power | No Comments

green design, eco design, sustainable design, global solar demand, Deutsche Bank, India solar power parity, Itlay solar power parity, Green Energy, renewable energy

Renewable energy [1] just hit a new landmark in India [2] and Italy, as Deutsche Bank [3] reports that solar power [4] is finally available at the same cost as traditional electricity in the two countries. The bank’s global solar demand [5] forecast for 2014 also predicts that demand for solar power will soar 20% – particularly in China, the U.S. and the U.K. The German bank expects India and Italy’s achievement to inspire other countries, making solar power accessible to even more consumers.

green design, eco design, sustainable design, global solar demand, Deutsche Bank, India solar power parity, Itlay solar power parity, Green Energy, renewable energy

The cost of installing photovoltaic arrays in India [6] is quite high, yet despite this expense the country has achieved grid parity for solar power in a feat for green energy. Due to India’s incentive to expand solar energy, Deutsche Bank is forecasting an optimistic jump in the world’s solar energy demands, anticipating that India will be able to produce between 1 and 2 gigawatts of solar energy.

As for the United States, Deutsche Bank predicts the residential solar market to increase to 1 GW and the commercial market to hit 2GW with the completion of a giant solar farm already under construction in the Mojave Desert [7].

Now that Italy and India have reached grid parity, solar energy is on the road to being a commonplace energy source, rather than just an alternative.

Via Treehugger [8]

Photos by BrightSource Energy [9]


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URL to article: http://inhabitat.com/solar-energy-reaches-grid-parity-in-india-and-italy/

URLs in this post:

[1] Renewable energy: http://inhabitat.com/energy/

[2] India: http://inhabitat.com/can-indias-solar-energy-output-hit-33-4gw-by-2022/

[3] Deutsche Bank: https://www.db.com/

[4] solar power: http://inhabitat.com/solar-power/

[5] global solar demand: http://inhabitat.com/construction-to-begin-on-saudi-arabias-first-solar-farm-next-year-part-of-109bn-investment/

[6] cost of installing photovoltaic arrays in India: http://inhabitat.com/indias-barefoot-solar-engineers-are-building-a-brighter-future/

[7] a giant solar farm already under construction in the Mojave Desert: http://inhabitat.com/mojave-desert-solar-power-fields/

[8] Treehugger: http://www.treehugger.com/renewable-energy/solar-power-has-reached-grid-parity-india-and-italy.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+treehuggersite+%28Treehugger%29&utm_content=Google+Reader

[9] BrightSource Energy: http://www.brightsourceenergy.com/

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