Solar Power Officially Becomes Cheapest Energy Source in 90% of Countries
A landmark report confirms that solar energy is now the cheapest form of electricity generation in most of the world. The cost of solar panels has dropped 90% in the last decade, accelerating the global transition away from fossil fuels.
Solar dominates global energy economics
Historic Milestone
The IEA confirms solar is now the cheapest electricity source in 170 of 190 countries analyzed. Average costs have fallen to $20 per megawatt-hour, compared to $50 for gas and $65 for coal.
Technology Progress
Panel efficiency has reached 24% for standard modules. Manufacturing scale in China has driven costs to levels unimaginable a decade ago. Perovskite technology promises further gains.
Grid Integration
Battery storage costs have fallen 80%, addressing solar's intermittency. Solar-plus-storage now competes with gas peaker plants for reliable power delivery.
Solar is now the cheapest power in 170 countries at $20/MWh, driven by better panels and cheaper storage, rivaling fossil fuels.
Leave a Comment
Your email address will not be published. Required fields are marked *
