Deutsche Bank investment analyst Vishal Shah is now predicting that solar energy will be at grid parity across most of the world by 2017.
“We believe the trend is clear: grid parity without subsidies is already here, increasing parity will occur, and solar penetration rates are set to ramp worldwide,” Shah says in his 2015 solar outlook.
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Late last year, Deutsche Bank projected that U.S. solar will double its annual sales in 2015 and 2016, and reach grid parity across all 50 states in 2016.
With conventional grid prices rising, and solar module costs set to fall another 40% in the next four or five years, Shah expects collapsing oil prices to have little impact on the “solar juggernaut,” RenewEconomy reports.
If electricity prices remain unchanged, solar will be cheaper than conventional supply in two-thirds of the world. A 3% annual increase in conventional prices will put 80% of countries at grid parity.
