Solar reaches record low of $10.4/MWh

 From PV magazine:

[O]ne of the projects – the 600 MW Al Shuaiba PV IP project – will sell power at a world record low price of $0.0104/kWh.

$10.4/MWh.  Yes, interest rates are low; yes Saudi Arabia has a lot of sunshine.  But the cheapest-- subsidised!--solar in the US, from the south-west, is $24/MWh.  This suggests US solar LCOEs have much further to fall.  

The previous record was €11.14/MWh (US$16/MWh) last year in Portugal and $13.5/MWh in Abu Dhabi.  In other words, the cost of solar power has fallen 23% in under a year!

Source: Lazard