Question
Global solar PV industry has been advancing very fast. According to the International Renewable Energy Agency, global accumulated PV installation reached 480-gigawatt (GW) in 2018.
Global solar PV industry has been advancing very fast. According to the International Renewable Energy Agency, global accumulated PV installation reached 480-gigawatt (GW) in 2018. It was reported that the cost of PV cells was around $10/watt when global capacity reached 100-megawatt (MW) in 1992.
3. Use the learning curve to calculate the cost for PV in 2018. Assume a learning rate of 0.8 (Double production bring down the cost to 80% of original level). Compare your results with what reported by Bloomberg New Energy Finance at $0.3/watts in 2018. [Hint: you can take the rst 100MW as the initial unit; 1GW = 1000MW; Yx = aXb, where Yx is the cost of the Xth unit, a is the cost of initial unit, and X is the accumulated units, and b = log(learning rate)/log2] [Get the formula right [0.5pt]; get the X right [0.5pt]; get the b right [0.5pt]; calculate he Yx right [0.5pt]]
4. How does the calculated market learning rate compared to the assumed 0.8 learning rate?[0.5pt] Why?[0.5pt]
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