“In the last three years, however, the economics have turned decidedly in favor of PV technology. A glut of PV panels, made mostly in China, has pushed their prices down 62 percent 2010, sinking from $1.87 per watt to about 71¢. While at least three other concentrating solar plants are set to come online by 2016, many others are being converted to PV or canceled. “Right now, PV is the favored technology,” says Ben Kallo, an energy technology analyst with Robert W. Baird, a Milwaukee-based investment bank. “You are getting pretty close to fossil-fuel-type costs with PV technology in about 50 percent of the world, anywhere with high electricity prices and lots of sun.” At the same time, “no one’s quite mastered concentrating power,” Kallo says. Even though the supply glut has diminished, analysts expect PV panel prices to continue to decline, in part because panels are getting more efficient at producing power.”
See the entire article on Bloomberg Businessweek.