Lazard’s report calculating comparative LOCEs of different energy sources shows just how competitive RE are today after the 50% reduction in cost over the past four years.
This is due to constantly improving technological efficiencies, attractive financing mechanisms and intense competition.
As we repeat regularly, the key to sustainability of this industry is its competitiveness with conventional energy without any subsidies.
The second crucial factor is that the technology stays competitive over the entire life of the projects. This should not be underestimated.
According to Nader Hakimi, long experienced in RE project development around the world and CEO of the Hinduja Bank in Paris, only projects that can achieve grid parity will be viable but they must remain viable for 25 years! PV cells will need to be robust enough to survive and maintain efficiency for that many years.
We believe technology is moving in this direction. As a result we we are on the cusp of a great renewable energy wave.