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First Solar pips Photon Consulting report to the grid parity post
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The 2009 edition of Photon Consulting’s ‘The True Cost of Solar Power: Race to $1/W’ has been made available, which outlines how manufacturing companies’ cost-cutting measures are leading the industry down the road of reaching the much-coveted $1/W target. However, the content of this report is disputed by First Solar's recent news, which saw the company move closer to becoming the first to claim the grid parity prize.
The PHOTON Consulting report claims that grid parity should have been achieved by 2012, a conservative estimate if First Solar's developments are to be considered.
Solar power looks to be becoming competitive with grid electricity in several major global markets as a result of the lowering of manufacturing costs. According to PHOTON Consulting, the race is on for companies to achieve this milestone of delivering $1/W solar modules that cost $1/W to install. But it seems the race has already been won.
"By 2012, companies not able to achieve $1/W through the module level, $2/W through the system level and $0.10/kWh to $.20/kWh for electricity are significantly at risk, because other companies will get there,” explained PHOTON Consulting’s Managing Director, Michael Rogol.
Further information on PHOTON Consulting’s report is available here.
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key difference: First Solar reported $1/W in COGS. According to the executive summary PHOTON's target is $1/W all-in cost (COGS + overhead). First Solar's cost is above $1/W if you incorporate overhead cost.