The future of solar power: From unbelievably cheap to insanely cheap. Clean technology advocate and futurist Ramez Naam admits he was wrong about the price of solar. His forecasts in 2011 were among the most optimistic in the world, but he turned out to be wrong by at least a factor of two. Solar is now half the price he predicted nearly a decade ago, and already at a price that established institutions like the International Energy Agency thought wouldn’t be possible for a century to come. That’s how dramatic the cost of the technology has fallen. And it’s going to get cheaper. We saw this in action last month, when Abu Dhabi Power Corporation’s 2GW Al Dhafra project attracted record low bids of 1.35 cents in US currency. Naam says the world is currently entering what he calls “the third phase of clean energy,” where building new solar and wind power is cheaper, even, than keeping existing fossil fuel plants running.
Renew Economy 18th May 2020 read more »