Solar panel costs have plummeted from $6 per watt in 2000 to just 12 cents today
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The big picture: Cheap solar panels are reshaping the way electricity systems operate from Pakistan to Australia. Businesses and households are generating more of their own power, reducing daytime grid purchases while still relying on utilities to maintain networks and supply electricity when solar output falls. The shift is making demand harder to forecast and prompting grid operators to invest in better system visibility, storage, and new pricing models.
At Bestway Cement's plant in Chakwal, Pakistan, solar already supplies more than a quarter of the electricity used to make cement. The company has 26MW installed and expects to add another 6.34MW by the end of the year.
"It's the only way we can compete," Abdul Waheed, the plant's general manager, told the Financial Times. "Our rivals have already gone in this direction."
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