Researchers at Queen’s University recalculate the levelized cost of electricity, and find photovoltaics (PV) is the low-cost solution.

But What Is Grid Parity?

According to Wikipedia: Grid parity is the point at which alternative means of generating electricity produces power at a levelized cost that is equal to or less than the price of purchasing power from the grid. Reaching grid parity is considered to be an important point in the development of new sources of power, the point at which it becomes a contender for widespread development without subsidy support.

The study concludes, in part:

Given the state of the art in the technology and favorable financing terms it is clear that PV has already obtained grid parity in specific locations and as installed costs continue to decline, grid electricity prices continue to escalate, and industry experience increases, PV will become an increasingly economically advantageous source of electricity over expanding geographical regions.

A draft version of the study is posted here: http://qspace.library.queensu.ca/bitstream/1974/6879/1/LCOE%20of%20PV%20pre-print.pdf