In a not-too-shocking but certainly reaffirming study released last month, the European Photovoltaic Industry Association (EPIA) concluded that full cost parity between solar power and the cheapest form of fossil fuel could be reached across the continent by 2020, and in some areas much sooner. In Italy, for example, full cost parity could occur as early as 2013. The study included analysis of the solar industry in France, Germany, Italy, Spain and the UK, and cites the precipitously falling costs associated with PV electricity and improving economies of scale as factors in the approaching milestone for the renewable energy world.

Driven by Europe’s relatively high cost of producing electricity and growing prices of carbon emissions imposed through the EU emissions trading scheme, the outlook for the PV industry is very positive. And although we face different hurdles here in the U.S., it is critical to understand that cost parity is an attainable, realistic goal…throughout the world, and for the benefit of it.

Read the study here: