Source: Energy Biz Insider
Solar photovoltaic is among the fastest growing segments of the energy market. Globally, grid-connected solar capacity increased at an average annual rate of 60 percent from 2004 to 2009, faster than any other energy source.
However, solar power still accounts for less than one-half of one percent of the world’s electric power output and, even with significant subsidies, solar power is substantially more expensive than conventional power sources in most locations. All other factors being equal, if solar is to become a significant power source, it must compete with other energy sources on price.
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