Solar panel industry achieves Holy Grail - $1 per watt grid-parity

Arizona based First Solar has achieved a major milestone in reducing the manufacturing cost for solar panels below the $1 per watt price barrier - the target necessary for solar to compete with coal-burning electricity on the grid or grid-parity. Using cadmium telluride (CdTe) technology in its thin-film photovoltaic cells, First Solar claims to have the lowest manufacturing cost per watt in the industry with the ability to make solar cells at 98 cents per watt, one third of the price of comparable standard silicon panels. The efficiency is in part due to a low cycle time - 2.5 hours from sheet of glass to solar module - about a tenth of the time it takes for silicon equivalents.

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