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Solar energy finally becomes the cheapest source of new energy

When it comes to getting new energy, solar energy is now cheaper than fossil fuels, according to a World Economic Forum (WEF) report. Bloomberg New Energy Finance (BNEF) data also show lower prices, with the average price of solar power in about 60 countries falling to $ 1.65 million per megawatt, followed closely by wind at 1.66 million dollars per megawatt.

Michael Drexler, director of long-term investment, infrastructure and development at the World Economic Forum, found that lower prices were an encouraging sign.

“Renewable energy has reached a turning point, is now the best opportunity to reverse global warming, solar and wind energy have become very competitive and costs continue to fall, not just a commercially viable option, but an opportunity for absolutely attractive investment with stable returns and protected against long-term inflation “.

The US Energy Information Administration UU estimated that about 9.5 gigawatts of solar capacity was added to the country’s electricity grid, making it the main source of energy for the year. More and more homes and businesses are also becoming solar, adding 1.7 gigawatts of installed capacity.

“The solar investment went from nothing … five years ago to a lot,” said Ethan Zindler, an analyst at BNEF in an interview with Bloomberg.

The drop in prices could be attributed to a large number of factors, such as lower installation and equipment costs, new business ideas and an increase in cleaner energy policies. There is no doubt that a significant increase in investments in solar energy has helped, with China to add $ 103 billion, more than those of the United States, the United Kingdom and Japan combined. Although it is not yet the billion dollar agreed in the Paris agreements, we may well be on the right track.

 

Incredible milestones have been established this year, especially in developing countries. The SolarPack energy company reached an agreement to offer solar power in Chile for only $ 29.1 per megawatt hour, approximately 60% cheaper than a new natural gas plant.

BNEF President Michael Liebrich believes in the future of greener energy sources. “Renewable energies are firmly entering the era of scour [fossil fuels].”

Of course, the use of dirty energy will not stop simply because other forms are cheaper in some parts of the world, but the promise lies in the progressive impact of reports such as WEF and BNEF. : that humanity is not condemned to the use of fossil fuels, and that cleaner alternative energy sources are truly viable.

In the next decade, the price of solar energy should be reduced to about half of what it costs to produce electricity from coal. And all these estimates do not take into account the possibilities of the futuristic sources of energy that are still in research and development, and that are still far from the horizon. Nuclear fusion, for example, would certainly change the rules of the game, even if it turns out to be harder to achieve than expected; Other conceivable energy technologies, such as solar energy based on space, are equally distant, although promising.

Therefore, this exciting new research, combined with more energy-efficient technologies and dedicated government policies, can divert us from a future of pollution and depleted resources to clean the air, a cleaner environment and the promise of energy. unlimited.

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