Solar Keeps Getting More Affordable

You’ll Never Believe How Cheap New Solar Power Is

Joe Romm, July 18, 2016 (Climate Progress)

“Solar energy has grown 100-fold in [the U.S.] in the past decade. Globally, solar has doubled seven times since 2000, and Dubai received a bid recently for 800 megawatts of solar at a stunning $0.0299/kWh unsubsidized as compared to the $0.12/kWh average U.S. residential electricity price]…Solar energy has been advancing considerably faster than anyone expected just a few years ago thanks to aggressive market-based deployment efforts around the globe…[Costs have come down by a factor of 150 since 1975 and installed capacity has increased 115,000 times over and] for every doubling in scale of the solar industry, the price of solar modules has dropped roughly 26 percent…[It is projected that, by 2040, global investment in solar will reach $3.4 trillion, more than the projected $2.1 trillion investment in fossil fuels and $1.1 trillion in new nuclear] combined…[That will make wind and solar] the cheapest ways of producing electricity in many countries during the 2020s and in most of the world in the 2030s…” click here for more

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