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RENEWABLE ENERGY VIEW 2015


Solar Photovoltaics (Power)


Of all the technologies featured, solar photovoltaics (PV) is the most dramatic case of exceeding expectations. Much of the current growth is driven by larger-scale projects. The government has responded to this by closing the RO to projects above 5MW from April 2015. There are serious concerns about whether Contracts for Difference will be viable for solar PV, at least in the medium term. Plotting a course for reducing subsidies in line with costs is a key challenge. There is also a need to unlock deployment on buildings in the commercial sector. For comparison purposes, it is always worth looking at the generation figures rather than installed capacity, as load factors for solar PV are far lower than for other non-baseload technologies, such as wind.


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SOLAR PHOTOVOLTAICS CONTEXT


l PwC estimate that £5,708m was invested in the sector between 2010 – 2013 l In 2014, PwC calculate that an additional £4,554m was invested l Over the period 2015 – 2020, PwC forecast a further £5,580m could be invested in the sector (£m, Real 2012)


l Huge beneficiary of Feed in Tariff, growth of nearly 1000% in 2011


l Dramatic recent cost reductions. Large scale forecast to be competitive with onshore wind by 2018. Likely to require little or no subsidy after 2020


l EU has imposed additional duties on


Chinese panels on grounds of unfair


competition – pushing up deployment costs to end 2015


l Popular on buildings but ‘solar farms’ considered controversial by Government. Industry has developed codes of practice, community engagement and biodiversity guides


56 REview Renewable Energy View 2015


www.r-e-a.net


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