It's clear that we are going to see this number increase at a rapid rate, and not just in emerging economies. Without the generous tax breaks provided to the oil and gas industry solar is clearly going to win out as the cheapest form of new energy supply in the majority of the established economies too. Microgrids are going to be significant especially in the emerging economies. Solar combined with energy storage can provide a reliable, clean power supply to many areas that do not have access to the main electricity grid. Long live solar!!
“Renewables are robustly entering the era of undercutting [fossil fuels],” says BNEF advisory board chairman, Michael Liebreich. Solar is booming for a number of reasons, including falling equipment costs, new business models like Tesla’s home batteries, growing investment, and a rise in clean energy policies. That is not to say that solar is the cheapest form of energy in all nations all the time. It depends on latitude and climatic conditions that control how much sunshine a country receives. But with the availability of wind, geothermal, hydro, biomass, and other renewable energy solutions, the case for making electricity by burning fossil fuels — even natural gas — is getting weaker almost day by day. Solar energy isn’t the cheapest option in the US — wind energy is — but solar is now 2nd.