A new report by the International Renewable Energy Agency shows that the costs of renewable energy are dropping, particularly in the case of solar. The report states that the per kwh cost of installed solar has been cut in half in the past four years to 0.08USD/kwh without government subsidy. Costs as low as USD0.06/kwh are being achieved in large scale utility applications where low cost financing is made available. The report states that “solar PV has come of age and mature commercial solutions are now available to provide competitive power in a complete range of applications.”
Here in BC, the economic viability of solar energy is being recognized. An exciting project broke ground near Kimberly, BC in July 2014. SunMine will have over 4,000 solar-cell modules, mounted on 96 solar trackers following the sun’s movement and maximizing solar exposure. The project will generate enough electricity to power 200 homes, with room for expansion. SunMine earns its name because it sits on the site of Sullivan Mine, which was the largest lead and zinc mine for most of the 20th century. The land was donated for the project by Teck Cominco. When SunMine is complete, it will be western Canada’s largest scale solar project, and the first solar project in B.C. to sell power to the BC Hydro grid. It will also be fully owned by the City of Kimberly, the result of an innovative partnership between the private sector, civil society and local government.
On Vancouver Island, residents are embracing economically viable solar energy too. Peter Nix, leader of the Cowichan Valley’s Carbon Buster movement, brought his campaign to the Cowichan Valley Regional District. Having already organized BC’s largest bulk purchase of photovoltaic panels, he is hoping that local government will support a community wide solar panel rebate program and consider establishing their own solar utilities. He argues that the plummeting cost of solar energy is creating an exciting time to reduce GHG emissions and promote economic development.