Solar energy is now the cheapest source of power, study
4 hours ago
- #energy-storage
- #solar-energy
- #renewable-power
- Solar energy is now the world’s cheapest power source, costing as little as £0.02 per unit in sunniest countries.
- Solar photovoltaic (PV) technology is the key driver for transitioning to clean, renewable energy globally.
- Lithium-ion battery prices have dropped by 89% since 2010, making solar-plus-storage systems as cost-effective as gas power plants.
- Hybrid solar-plus-storage setups are now standard in many regions, enhancing reliability and grid demand balancing.
- Challenges remain, such as grid congestion in high solar generation regions like California and China, leading to wasted energy.