November 30, 2023 | less than a minute read

Solar module prices may reach $0.10/W by end 2024

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Ross Hoare

Chief Operations Officer

Get in touch

Ross Hoare

Chief Operations Officer

According to Tim Buckley, director of Australia-based think tank Climate Energy Finance, solar module prices may approach $0.10/W by the end of 2024 or during 2025 at the latest.

Wow!

This represents a 95% price reduction since 2010 when I first started working in the solar sector. The leading solar manufacturers have significantly scaled their manufacturing capacity, completely flooding the market, driving costs down. Solar is by far the cheapest source of energy and has a huge advantage of being able to be deployed at scale incredibly quickly. In order to achieve net-zero, mass deployment of solar is vital.

At Hyperion, we're very proud to support businesses at the forefront of driving the mass rollout of solar energy. If you need support building your solar capabilities and resources, reach out to me, or Laura.Sottosanti@hyperionsearch.com

Solar is now the cheapest electricity, which is disrupting incumbent industry competitors.” This means finance will rapidly flee from investing in any new thermal power capacity in the electricity sector globally,” he said. The analyst is convinced that finance won’t just flee for environmental, social and governance (ESG) issues or moralistic or climate reasons, but it will flee nonetheless because it will not provide new financing to inevitably stranded assets, particularly with the concurrent rapid scaling up of battery energy storage and EVs.