Solar is still Cheaper that Gas and Oil

Posted by on Jan 27, 2015 in Renewables | 0 comments

Solar is still Cheaper that Gas and Oil

Solar is still cheaper than Gas and Oil, With More Innovations To Come

Solar power has come a long way in a short period of time. Just five years ago, the bulk of the energy community viewed it as being unreliable, expensive and difficult to source. Without massive government subsidies, utilities generally shunned solar, sticking with more traditional and reliable generation, namely, coal and natural gas. This was despite fossil fuels trading at or near record high costs amid strong demand and tight supplies. If solar couldn’t even beat natural gas when it was trading that high, chances were it would never play a significant role in the energy mix and would only be economic through governmental intervention.

At the same time and even more profoundly, however, advances made in photovoltaic (PV) cells, combined with an explosion in solar panel manufacturing in China, helped send solar prices down far faster than fossil fuels. The average solar panel now costs around 75% less than it did just five years ago and continues to fall despite the total decimation of the heavily subsidized solar manufacturing industry.

Source: Forbes

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