In the U.S., utility-scale solar projects churned out energy for an average price of US$ 0.05/kWh, factoring in subsidies and incentives, in 2014. Since then, there has been a huge drop in production costs: in 2015, Dubai signed a deal for a fixed US$ 0.058/kWh over 25 years. Austin, Texas, saw a total of almost 1,300 MW of energy in bids of under US$ 0.04/kWh last summer, and this month Enel Green agreed to sell power to Mexico and Morroco at US$ 0.036 and US$ 0.03 per kilowatt-hour respectively. In under sixteen months, the price of solar has dropped down to half — even lower when you consider that these bids aren’t subsidized.
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