How Cheap Can Solar Power Go?

Scientific American argues the case for optimism:

The National Renewable Energy Laboratory of the U.S. Department of Energy has watched solar photovoltaic price trends since 1980. They’ve seen the price per Watt of solar modules (not counting installation) drop from $22 dollars in 1980 down to under $3 today. … If the 7 percent decline in costs continues (and 2010 and 2011 both look likely to beat that number), then in 20 years the cost per watt of PV cells will be just over 50 cents. … [In which case] the cost of solar, in the average location in the U.S., will cross the current average retail electricity price of 12 cents per kilowatt hour in around 2020, or 9 years from now. In fact, given that retail electricity prices are currently rising by a few percent per year, prices will probably cross earlier, around 2018 for the country as a whole, and as early as 2015 for the sunniest parts of America.

Here's hoping.