"A new era for solar power is approaching. Long derided as uneconomic, it is gaining ground as technologies improve and the cost of traditional energy sources rises.Within three to seven years, unsubsidized solar power could cost no more to end customers in many markets, such as California and Italy, than electricity generated by fossil fuels or by renewable alternatives to solar. By 2020, global installed solar capacity could be 20 to 40 times its level today."
McKinsey & Company | Authors: Peter Lorenz, Dickon Pinner, and Thomas Seitz
Source: Climate Change Special Initiative and McKinsey Quarterly
Forecast — The growing competitiveness of solar power: McKinsey forecasts grid parity within the next three to seven years. This means that solar energy's unsubsidized cost to end users will approach the cost of conventional electricity in a number of markets, including parts of the United States (California and the Southwest), as well as Italy, Japan and Spain.
Outlook — The global solar market in 2020: According to McKinsey, the worldwide installed global solar capacity will grow by roughly 30 to 35 percent a year, from 10 gigawatts today to about 200 gigawatts in 2020.
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