Solar power should achieve 'grid parity' by 2012

Solar power will achieve 'grid parity' and will cost no more than coal-fired electricity by 2012, providing a boost for the solar industry and a reduction in greenhouse gas emissions, according to Dr Zhengrong Shi, founder of solar panel manufacturer Suntech Power.

Speaking prior to his address to graduates from the Faculty of Engineering, Shi said the solar industry had to move fast to capitalise on opportunities.

“We do believe photovoltaic power can become a mainstream power supply but there’s a lot of work to address,” Shi said.

Shi said the photovoltaic cell industry would expand in coming years as a result of three key factors:

• Increased investment.
• Dramatic growth in the scale of manufacturing.
• New technologies introduced into current production from cutting-edge second- and third-generation solar cell research.

Shi also said Australia had an important role to play in combating climate change as a leading developer of new technologies. He said the nation’s relatively small market and limited finance for investment in production meant it would be more practical to focus on being a supplier of technology and talent to the rest of the world.