Solar to reach ‘unassailable position’ as cheapest electricity source, says DNV
- Admin
- Apr 26, 2024
- 1 min read
DNV, a global risk management firm, offers its annual outlook on the global energy transition with a focus on solar PV. Solar is projected to dominate as the cheapest source of new electricity by 2050. The energy mix is expected to shift towards renewable sources, with variable renewables like solar and wind accounting for 70% by mid-century. DNV foresees a significant increase in solar capacity, with costs of solar expected to drop dramatically. Solar-plus-storage projects are expected to become more competitive with declining battery prices.
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