Solar energy is set to become the cheapest source of electricity in many parts of the world within the next 10 years, with the cost of photovoltaics continuing to decline. In fact, in some parts of the world, solar energy would become cheaper than the heavily subsidised fossil fuel energy, says a report. The report released by German think tank, Agora Energiewende, was commissioned to steer Germany towards its 80% renewable energy target. According to the report titled The Current and Future Cost of Photovoltaics, the price drop is set to occur even in conservative scenarios, without any major technological breakthroughs.