IN THE last round of bidding for renewable energy projects, the cost of photovoltaic (PV) solar dropped 68% — the new solar farms will be delivering cheaper electricity than Eskom’s new power stations.

And renewable energy costs will continue to drop while the efficiency of solar panels continues to improve.

Most solar panels in use today have an efficiency rate of 12%-18%. SolarCity, a US company run by three former South Africans, says panels from its new factory in Buffalo, New York, are achieving efficiencies of more than 22% and production costs are so low that no subsidies or incentives are required.

This is just one of a number of solar technologies that are delivering better, cheaper panels.

Manufacturers in the US and elsewhere are making panels that deliver efficiency rates of more than 40%, mainly for use in space. They are expensive, but that could change.

Source:  [http://bit.ly/20Vg4oM]