Energy industry experts believe China will be the world's first country to achieve grid parity for concentrated and photovoltaic solar by 2023, according to a survey by Lloyd’s Register Foundation. Almost 800 professionals from the oil and gas, power utility, energy and renewables industries were surveyed; 42% said parity would not necessarily prompt a sustained increase in investment in renewables. The survey also found 58% only expect renewables to overtake fossil fuels in their domestic market after 2025 and 62% said high development costs remained the biggest obstacle to greater pursuit of clean energy solutions.
Energy industry experts believe China will be the world's first country to achieve grid parity for concentrated and photovoltaic solar by 2023, according to a survey by Lloyd’s Register. Almost 800 professionals from the oil and gas, power utility, energy and renewables industries were surveyed; 42% said parity would not necessarily prompt a sustained increase in investment in renewables. The survey also found 58% only expect renewables to overtake fossil fuels in their domestic market after 2025 and 62% said high development costs remained the biggest obstacle to greater pursuit of clean energy solutions.