word
Grid Parity
GRID PAIR-ih-tee
/ɡrɪd ˈpærɪtiː/Listen
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Syllable breakdown
GridParity
Dictionary meaning
The point at which the cost of generating electricity from a renewable source equals or falls below the retail price of grid electricity from conventional sources. Achieving grid parity is a key milestone signaling that renewables can compete economically without subsidies.
Examples
- Solar power reached grid parity in many sunny regions by the mid-2010s.
- Wind energy has now surpassed grid parity in most parts of Europe.
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