Greenhouse gas reduction targets combined with the increasing cost-competitiveness of solar PV projects is creating a highly favourable economic climate for innovations and project build-out. But what about the use of PV systems in stand-alone microgrids, most of which are located in the Far North? Whether they relate to materials, know-how or demonstration projects, recent advances in the sector give reason to believe that solar PV will play a leading role in the impending energy transition.
- In Canada, the selling price of commercial PV projects tumbled from 12.60 CA$/W in 2006 to 2.50 CA$/W in 2016, which corresponds to a relative reduction in the order of 80%.
- In this context, the International Energy Agency (IEA) estimates that solar PV is poised for substantial growth between now and 2050.
- A number of demonstration projects have been commissioned in the past few years.
A webinar on solar photovoltaic (PV) will be presented on November 8. Click here to know all the details and to register.