SOLAR PRICE BEATS ALL COMERS IN CHILE

Solar Energy Is Cheapest Source of Power in Chile, Deutsche Says

Vanessa Dezem, November 4, 2015 (Bloomberg News)

“Solar power is now the cheapest source of electricity in Chile, according to Deutsche Bank...[In the October energy auction,] renewable projects offered the lowest prices and won contracts to supply 1,200 gigawatt-hours of power…That may lead to more than 1 gigawatt of new solar capacity installed in Chile this year…[and] help the country reach a target set in 2014 by Chile’s government of having 45 percent of its installed electric capacity powered by renewable sources…Three solar farms offered to sell power for $65 to $68 a megawatt-hour in the auction…Two wind farms bid $79 a megawatt-hour, and a solar-thermal plant with storage offered power at $97. Coal power was offered for $85…Thirty-one companies participated in the Oct. 23 event and the average price for winning bids was $79.30 a megawatt-hour, 40 percent less than a comparable auction in 2013. The power plants must go into operation by 2017. Renewable-energy projects won every contract…” click here for more

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