Intersolar 2016: “Record low prices to stay”

Dubai - MENA Herald: At Intersolar 2016, Sami Khoreibi, CEO of Enviromena, joined senior panelists from First Solar, Acwa Power, the EU-GCC Clean Energy Network and IRENA to discuss the aggressive decline in the cost of developing solar PV plants.
Mr. Khoreibi commented: “We are moving from a nascent industry to much more mature one. Prices are declining in an aggressive fashion, and although we are now witnessing a widespread drop in project pricing, the industry is still making money.”
The panelists agreed that solar PV is now by far the most competitive energy option where you have access to cheap land resources, abundant sun, and reasonably priced investment.
Mr. Khoreibi went on to discuss the future of solar prices: “Since 2008, the cost of solar PV has continued to decline due to cost of systems, and the historically low price of capital. Every time global supply doubles, we can confidently assume an over twenty percent decline in system costs. This is happening every two to three years.”
Mr. Khoreibi was joined on the panel by Ahmed S. Nada, Vice President and Region Executive, First Solar; Paddy Padmanathan, CEO & President, Acwa Power; Frank Wouters, Director, EU-GCC Clean Energy Network; and Rabia Ferroukhi, Policy Adviser & Deputy Director, Knowledge, Policy and Finance, IRENA.