Solar power is set to become the cheapest power source in many parts of the world, according to a new study by the Fraunhofer Institute for Solar Energy Systems commissioned by Agora Energiewende. While the levelized cost of solar power was already competitive in over 100 jurisdictions in 2014, the independent think-tank of 18 experts expect that even in in central and southern Europe, by 2025 the cost of producing power will have declined to between 4 and 6 cents per kilowatt hour, and by 2050 to as low as 2 to 4 cents. The study is based entirely on prudent assumptions about the future of solar development, excluding any potential breakthroughs that could theoretically make solar even more effective. We have already seen the cost of solar drop dramatically over the past, and this is expected to continue.
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