Solar energy is already cheaper than conventional fuels

Solar energy is already cheaper than conventional fuels

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The solar industry has been waiting 60 years for this to happen - and it finally just happened: solar power is already cheaper than conventional fuels.

Now the question is how and where solar power becomes a dominant force in energy markets.

From AllianceBernstein Michael Parker and Flora Chang published a note last week with the following graphic

The graph shows how quickly the cost of solar energy converges with the price of conventional fuels. The solar industry has been working for 60 years to reach this point.

Solar power is currently - under the right conditions - cheaper than Asian oil and liquefied natural gas (on a MMBTU basis).

Considering the costs of commercial-scale solar energy in the markets of developing countries with a lot of sun .. For these markets solar energy is not only clean, comfortable, reliable energy, but also cheap.

Furthermore, solar energy is a technology that will become even cheaper over time. The costs of extracting fossil fuels will continue to rise. An oil price of $ 150 is forecast in 2020.

Solar energy still represents only a small fraction of total energy use in absolute terms - approximately 0.17%. But it is an unstoppable trend once operational problems are resolved (efficient batteries for energy storage, investments, infrastructures ...). Even the author predicts a scenario with a deflation of current energy prices.

A few days ago the Solar Impulse 2 (SI2) project was announced. In 2020 a plane powered by solar energy will go around the world, after preliminary tests of the last two years. A new era for solar energy? A new era for humanity?

See the original full article on Business Insider Source ROB WILE:

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