ACAP Director Martin Green speaks with the Financial Review about the incredible drop in the cost of solar, with today's modules costing only 4% of what they did just 12 years ago. This shows great promise for Australia reaching its target of solar electricity generation at $15 per megawatt hour from the current price of around $45, by 2035.
“I think we might even see that by 2030,” said Professor Green.
Energy Minister Angus Taylor has identified ultra-low cost solar as a critical priority to cutting Australia’s emissions 26 per cent to 28 per cent by 2030 from their levels in 2005.
Professor Green goes on to explain ACAP's leading role in the development of new solar technologies that hold huge potential for more powerful, more efficient cells made from new materials, in particular tandem solar cells, and perovskites.
“And then there’s still that secret weapon up our sleeves,” he said of the emerging tandem cell technology that allows PV makers to stack layers of silicon and potentially double the efficiency of a standard cell.
“That’s the big hope for really long-term, further dramatic cost reductions.”