Solar Energy Now Cheaper Than Natural Gas, Coal, or Nuclear Power Anywhere in the World

Solar Energy Now Cheaper Than Natural Gas, Coal, or Nuclear Power Anywhere in the World

Abu Dhabi has reclaimed its title from Chile. The Capital’s Electricity and Water Authority has received the cheapest solar power project after a combined bid of 2.42¢/kWh was made by the Chinese ‘JinkoSolar’ and the Japanese ‘Marubeni’, combined. To quote the reference, Chile previously received the solar power bid marked at 2.91¢/kWh.

The JinkoSolar–Marubeni consortium gave out the lowest ever bid of 2.42¢/kWh. As compared to the one in Chile, this bid is 20 percent lower. Abu Dhabi’s planned solar PV project for the town of Swaihan received 6 bids in all for the 350 MW project. Scaled at 2.53¢/kWh by a local firm, the project received the second lowest bid. Eventually, large developer firms withdrew their tender due to the drastically low bids.

Once the evaluations are weighed technically and economically, the authorities will declare the final result. As a matter of fact, the solar park project might get bigger to the size from 305 MW to 1GW, given the shockingly low amount of bid received by the bidders for such large capacities.

One can clearly state that the recent times have seen a mammoth fall in the biddings related to solar projects. Projects in countries like India have also received bids to as low as 4.00¢/kWh.

Earlier, a solar power project in Dubai received a shockingly lower bid by a Masdar-led consortium of 2.99¢/kWh; very near to the one in Chile.

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