PREBOLD, 15^th of July 2009 – Photovoltaic solar electricity is poised to become a significant and competitive supplier to the European electricity market, concludes a comprehensive study conducted by the European Photovoltaic Industry Association (EPIA). The group of 50 general managers from the leading European companies in the field of photovoltaics - CEO of BISOL Dr. Merc was among them – at the invitation of EPIA prepared a model of determining the competitiveness of photovoltaics on European markets by 2020.

«Providing a unique combination of facts, figures and analysis, the study shows that boosting the share of photovoltaic electricity will yield huge benefits to European society and its economy. Technological progress will enable further substantial PV cost reductions, while fossil fuel-based electricity prices are expected to continue their long-term increase,« underlines Dr. Merc. The basic findings of the study are surprising:

• Photovoltaic electricity will be competitive with other power sources in as much as 76% of the EU electricity market by 2020, without any form of external price support or subsidy;
• With the technology, that is available today, PV electricity could provide up to 12% of electricity demand in EU by 2020;
• With a 12% penetration by 2020, PV would cut as much as 196 million tons in CO₂ emissions per year;
• With current growth of PV sector, a 8% price decrease year-on-year can be expected;
• In the case of a 12% share, the investments in photovoltaics could represent 25% of all investments in the renewal and new production capacities of electricity, thus becoming photovoltaics the major new source of electricity in Europe.

The photovoltaic industry is committed to delivering energy technology that is sustainable and competitive on a large scale. Dr. Merc emphasizes, »The sun represents the most promising and an unlimited way of using renewable sources. Conversion of solar energy into electricity has direct and positive effect on energy independence and security of electricity supply.« Solar photovoltaic power plants meet the criteria for the most modern energy source for a number of characteristics, such as renewal of energy source, enormous potential, environmental acceptability, accessibility, reliability and dispersal.

You can read more about SET For 2020 here.