California sees prices fall for renewable energy

Under a new law the California Public Utilities Commission has been forced to report the costs associated with the state's renewable energy portfolio standards, information that has never before been available to the public, according to Forbes.

While many states impose portfolio standards, California's current goal of 33 percent by 2020 is by far the most demanding in the country, if only because of the scale of the energy industry in the state.

The costs paid for this policy have varied, but a strong trend emerged over the past decade of steadily climbing prices per kilowatt-hour, rising from 5.4 cents per kilowatt-hour in 2003 to 13.3 cents per kilowatt-hour in 2011.

However, the report also revealed that the state has seen prices offered by renewable energy companies drop rapidly, falling roughly 30 percent in the past two to three years as the price of solar power systems has plummeted.

Bloomberg reports that this trend could prove particularly beneficial as many older, more expensive systems are abandoned in favor of cheap solar energy.

Information on the solar market and supply chain can be found at PennEnergy's Research area.

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