Are Solar Panels Now As Cheap As Fossil Fuels

In two thirds of the world renewable sources of power are more affordable than carbon based electricity.

Are solar panels now as cheap as fossil fuels.

Between 2010 and 2017 solar and wind. Given that wholesale cost of fossil fuels is around 7 cents per kilowatt hour the cost of solar is now at a point where it s primed for wide scale adoption. So far 30 million americans enjoy clean. In a new report the international energy agency iea says solar is now the.

This is what i ve called the third phase of clean energy where building new clean energy is cheaper than keeping fossil fuel plants running. Two years ago the lowest cost deal was in nevada at 5 7 cents per kilowatt hour. Solar energy is just as useful as energy derived from fossil fuels except it s cleaner to use and it s renewable. Image from a nasa craft flipping around the sun renewable energy is now as cheap as fossil fuels without the added cost of destroying human civilization.

The only thing stopping the world from using solar energy instead of fossil fuel based energy is the cost factor up until now fossil fuel derived energies including gas oil and coal energy production processes have been much cheaper than buying and installing solar panels. All four iea scenarios include a mix of renewables as well as nuclear and the world s remaining fossil fuel plants. The deal calls for a huge solar farm backed up by one of the world s largest batteries. It would provide 7 of the city s electricity beginning in 2023 at a cost of 1 997 cents per kilowatt hour.

Because of varying climates solar energy is not evenly accessible across the world.