Sharp: Solar Costs Down 50% by 2010

The president of solar cell manufacturer Sharp Corp., predicts that the cost of generating solar power will drop 50 percent by 2010. Most industry experts say that the cost of producing solar power, currently about $0.50 per kilowatt hour, will fall by about five percent per year.

“By 2020 we expect a further reduction – half of 2010 – and by 2030 we expect half the 2020 level,” Katsuhiko Machida told Reuters.  Machida expects that a shortage of solar-grade silicon will ease by 2008.

Machida also said that Fossil fuel resources will be totally out by 2030.