A new European report claims that solar PV prices are set to fall by up to 50% in the next 10 years.

The European Photovoltaic Industry Association's report, 'Solar Photovoltaics competing in the energy sector – on the road to competitiveness', assesses the electricity markets of France, Germany, Italy, Spain and the United Kingdom says PV competitiveness with grid electricity can be achieved in some countries as early as 2013.

PV system prices could fall by up to 51% over the next 10 years as prices of modules, inverters and structural components fall, says the report.

The report says this will spread across the continent in the different market segments as markets mature towards the end of the decade in 2020.