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Further Dramatic Fall in Price of Solar Energy Forecast for 2018

Experts say the price of solar energy is expected to further dramatically drop in 2018, opening up further space for more ambition to tackle climate change which is crucial to achieve the goals of the Paris Agreement.

According to the Bloomberg New Energy Finance (BNEF) analysis published in the journal PV Magazine, the price of photovoltaic panels is expected to decline by 34% this year, roughly the equivalent to the fall in module prices in 2016, and only exceeded by the 40% price drop in 2011.

Experts at BNEF also predict that module prices will fall by another 10% to 15% in 2019.

The decline in the price of photovoltaic panels is mainly driven by solar industry reforms in China, and is set to pave the way for greater commercial and residential use in many parts of the world.

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