By Antonio Alvarez, Venture Partner, Acero Capital; Elisa Yoo, Associate, Acero Capital
This is the second and concluding part of a study on the solar photovoltaic market. In the first part, photovoltaic energy was contrasted with other energy sources used to generate electricity, and cost points necessary to produce a sustainable photovoltaic market were identified. In this second part, learning rates required to attain those cost points are provided. The paper concludes by examining a scenario in which 15% of the world’s electricity in 2035 is generated using photovoltaic energy, and frames the challenge from both global investment and profitability perspectives.