It seems that we really entered a new era of energy production, that renewable energy production. In the past month, the cost of solar power has been reduced, it seems that things will remain so. In fact, “there is no reason why the cost of solar energy will increase again,” said Frank Wouters, the former Masdar Clean Energy Director, recently accepted by Electrek.
If governments and innovators continue to invest in the energy they have been investing in, Wouters’ statements are easy to believe.
In just 5 months, prices have dropped some 25%. This development is shown in the recent, and staggeringly low, construction bids on solar projects in China ($0.46/W for 500MW of solar power) and Dubai ($0.023/kWh for 1.2GW of solar power)Solar power is the champion of Chinese local government. As a result, the cost of solar panels has been drastically reduced by lowering hardware prices. For example, since the first quarter of this year, the cost of solar panels has dropped significantly. In Abu Dhabi, solar panels produce more electricity than usual, as the city enjoys the best sunlight in the world.
Still, Abu Dhabi isn’t the only location with ideal conditions.
Costa Rica powered itself purely with renewable energy for 299 days total Last year. They already surpassed 150 days This year. Of course, These success stories depend not only on the size and location of the country. The Government is also working to reduce the country’s use of petroleum fuels.
And other countries are also stepping up to the plate. Thus, this most recent drops herald a notable trend that is, at the present time, showing no sign of slowing.
In Nevada, a 100MW solar project is expected to deliver electricity at $0.04/kWh. Chile and India are also experiencing similar efficiency.
Now, we need to really invest in renewable grid storage solutions. Fortunately, a number of companies already have such solutions in the works.
Since its introduction, the Tesla Power Wall has been a great success. Last year, the equipment has been sold out, presumably has reached about 1 billion US dollars in sales.
Basically, the massive battery allows you to stock solar energy and use it to run your home’s electricity after dark.
The batteries are designed to tap into backup power when the grid goes down, or to be used in tandem with solar panels to access solar energy in the evening, making it a smart and reliable source of power during the harsh winter seasons or other chaotic times.
In any case, one thing seems to be certain: Technology for developing renewable sources of energy gets better through time. And while it does, the cost of an energy efficient world becomes more and more affordable.
Solar energy is a trend, is a booming trend, It will Energy-saving emission reduction to open the green era. It is a maintenance of the environment in which we live.