Renewable energy companies are approaching the point where they can generate electricity at a price competitive with fossil-fuels without subsidies, the biggest wind and solar manufacturers said.
Suntech Power Holdings Co. Chief Executive Officer Zhengrong Shi said solar will reach parity with fossil fuels on electric grids by 2015. Vestas Wind systems A/S expects its turbines to compete without incentives “in the coming years,” said Peter Brun, head of governmental relations.
“Wind in some cases already is, or can in coming years, be fully cost-competitive with fossil fuels,” Brun said yesterday by e-mail from the World Economic Forum in Davos, Switzerland. “Fossil-fuel prices will continue to rise, and that increases the competitiveness of new technologies. We are preparing the whole industry for getting off the subsidy-need.”