PRESS RELEASE: Solar PV forecast as cheapest power generating technology in UK for years to come

Solar Trade Association
FOR IMMEDIATE RELEASE
25 August 2020

New analysis on electricity generation costs published by the Department of Business, Energy and Industrial Strategy havs marked large-scale solar PV as the outright cheapest electricity generating technology available in the coming years. [1]

For projects commissioning in 2025, large-scale solar PV is expected to come in at below half the cost of combined-cycle gas turbines (CCGT), and cheaper still in 2030, 2035 and 2040, where costs could fall as low as £28/MWh. [2] [3]

STA Chief Executive Chris Hewett said: “The industry has known for a long time that large-scale solar is one of the cheapest power technologies available today, and we are pleased that this has now been officially recognised.

Now it is time for the Government to set an ambitious target for the deployment of solar PV in the UK, as it has done with offshore wind. Our favoured goal, 40GW by 2030, aligns with recommendations made by the Committee on Climate Change and the National Infrastructure Commission, and is achievable with moderate policy support.

 

ENDS​

 

Editors notes:

[1] Department for Business, Energy and Industrial Strategy – Electricity Generation Costs 2020: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/911558/Electricity_Generation_Costs_2020.pdf

[2] Central CAPEX estimates for large-scale solar PV from 2025-2040.

[3] Central CAPEX estimates for large-scale solar PV, onshore wind, offshore wind and CCGT from 2025-2040.

For further information or to request an interview, please contact:

Name: Jack Dobson-Smith

Title: External Affairs Adviser

Main line: 0203 637 2946

 

Background on the Solar Trade Association:

The mission of the Solar Trade Association is to empower the UK solar transformation. We are paving the way for solar to deliver the maximum possible share of UK energy by 2030 by enabling a bigger and better solar industry. We represent both solar heat and power plus energy storage, and have a proven track record of winning breakthroughs for all three technologies.