Tuesday, July 23, 2024
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Solar Prices Drop Dramatically


The Electric Authority announced the result of its latest tender for suppliers of solar energy. The lowest bid came in at NIS 0.156 per kilowatt hour of power. That bid is from Partner Investors, who will supply 69 Megwatts. Adanit Realtors will supply 13 megawatts at NIS 0.15.89 per kwhr. Finally, Menorah Energy will supply 110 Megawatts at NIS 0.1668 per kwhr. 

The numbers are revolutionary, with solar prices dropping dramatically. Solar prices have dropped 90% over the course of the last ten years, including a 25% decrease since the last set of tenders. The cost to produce electricity by gas in Israel is not NIS 0.27 per kwhr, thus making the cost of solar energy considerably cheaper than gas energy. The cost of producing electricity from the sun continues to drop, as both the cost of producing solar fields continues to drop, and the efficiency of the of solar panels continue to rise. While the end of the use of fossil fuel remains years away, it would seem based on these numbers plans to invest in anything, but solar or other alternative forms of energy seem like a feckless investment in the year to come.



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