Solar power to take over in US, say scientists

After decades on the fringe, solar power is closing in on America’s mainstream energy sources as surging fossil fuel prices and mounting concern over climate change spur states, businesses and homeowners to embrace alternative energy.

The point at which the world’s cleanest, most renewable resource would become cost competitive with other sources of energy on electricity grids could happen within two to five years in parts of the US and other countries, if the price of fossil fuels continues to rise at its current pace, they add.
“It is becoming more and more clear it is a real possibility and, we believe, a reality,” Tom Werner, the chief executive of SunPower said at the Reuters Global Energy Summit on June 3.

Richard Feldt, the chief executive of US solar panel maker Evergreen Solar, calls grid parity the industry’s “holy grail” and sees it happening in about five years.

Suntech Power Holdings, one of the largest of a growing number of Chinese solar companies, foresees the same five-year timeline, thanks to increasing supplies of silicon that would help drive down costs.

Business Report