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New Record Set for World’s Cheapest Solar
http://www.nationofchange.org/news/2016/05/06/new-record-set-worlds-cheapest-solar/The price of solar power dipped to another record low on May 1 when five international companies bid as little as 2.99 cents per kilowatt-hour (kWh) to develop the latest phase of work at Dubai’s enormous Mohammed bin Rashid Al Maktoum solar park, which will be one of Earth’s largest solar plants when complete.
At less than 3 cents per kWh, that’s 15 percent lower than the previous record-low bid of 3.5 cents per kWh from Italy’s Enel Green Power for a solar project in Mexico, according to Bloomberg New Energy Finance.
The latest bid is also nearly 50 percent cheaper than last year’s winning bid of 5.84 cents per kWh for developing the 200-megawatt second phase of the same solar park, which already broke records then, The National pointed out.
“This not only marks the lowest cost ever for solar power, but also easily beats all available fossil-fuel options in Dubai on cost,” explained Dr. Moritz Borgmann, a partner at of the cleantech advisory group Apricum.
