Large-scale solar PV is expected to be the cheapest power generating technology in the UK over the next two decades
The latest report on electricity generation costs published by the UK’s department for Business, Energy and Industrial Strategy (BEIS) forecast that large-scale solar PV will be the cheapest electricity generating technology available in the coming years, as reported by the Solar Trade Association (STA).
For projects commissioning in 2025, large-scale solar PV is expected to come in at below half the cost of combined-cycle gas turbines (CCGT), and cheaper still in 2030, 2035 and 2040, where costs could fall as low as £28/MWh.
Central CAPEX estimates for large-scale solar PV from 2025-2040.
Central CAPEX estimates for large-scale solar PV, onshore wind, offshore wind and CCGT from 2025-2040.
STA Chief Executive Chris Hewett said:
“The industry has known for a long time that large-scale solar is one of the cheapest power technologies available today, and we are pleased that this has now been officially recognised. Now it is time for the Government to set an ambitious target for the deployment of solar PV in the UK, as it has done with offshore wind. Our favoured goal, 40GW by 2030, aligns with recommendations made by the Committee on Climate Change and the National Infrastructure Commission, and is achievable with moderate policy support.”
Source: Press Release by Solar Trade Association.
