Solar power progress in the United States is expected to advance to record levels as prices decline and technology improves, Wood Mackenzie finds.
Energy consultant group Wood Mackenzie finds it’s getting cheaper to install solar power components. With this, new solar capacity has evolved from a niche renewable sector to something that’s pressuring conventional business models in the utility industry.
“Just as shale extraction technologies reconfigured oil and gas markets, no other technology is closer to transforming power markets in a similar fashion than distributed and utility-scale solar,” Prajit Ghosh, research director for American renewables research, said.
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