Solar power sets new record-low price, undercutting coal

Solar power set another record-low price with developers in the United Arab Emirates bid as little as 2.99 cents a kilowatt-hour to develop 800 megawatts of a Dubai solar park. That’s 15 percent lower than the previous record set in Mexico last month and much lower than coal-fired energy that averages between 5 and 8 cents a kilowatt-hour. The lowest priced solar power has plunged almost 50 percent in the past year. In January last year a record was set for solar power priced at 5.85 cents per kilowatt-hour to build a portion of the same solar park in Dubai.

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Solar power sets new record-low price, undercutting coal

Solar power set another record-low price with developers in the United Arab Emirates bid as little as 2.99 cents a kilowatt-hour to develop 800 megawatts of a Dubai solar park. That’s 15 percent lower than the previous record set in Mexico last month and much lower than coal-fired energy that averages between 5 and 8 cents a kilowatt-hour. The lowest priced solar power has plunged almost 50 percent in the past year. In January last year a record was set for solar power priced at 5.85 cents per kilowatt-hour to build a portion of the same solar park in Dubai.

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