< Back to News Archive

posted on:

Can big solar take on wind? Look to the banks


Source: Climate Spectator, 24 July 2014

A few months ago in an interview Tom Werner, chief executive of major global solar PV manufacturer and power developer Sunpower, and his Australian head Chris O’Brien, told me that he believed large-scale, 50 megawatt solar power projects in Australia could be viable at close to $100 per megawatt-hour in locations with solar resource equivalent or better than Broken Hill.

Such a cost structure represents a major development, placing solar squarely competitive with the two other bankable power options in Australia – wind and gas (you’d struggle to obtain bank finance for coal because carbon regulatory risk is too high).

I was rather incredulous of his claim but he could point at a real world project they had built in California to back-up his claim. And they had another project under construction in Chile achieving similar economics.

Read More HERE