Solar power is now the cheapest energy

Stefan Mileschin · 26th October 2020, 08:02

At least for utility companies

In a new report, the International Energy Agency (IEA) says solar is now the cheapest form of electricity for utility companies to build.

The reason is because of risk-reducing financial policies around the world, the agency says, and it applies to locations with both the most favourable policies and the easiest access to financing.

The report underlines how important these policies are to encouraging development of renewables and other environmentally forward technologies.

According to the report, which has the catchy title, The World Energy Outlook 2020, there are four 'pathways' to 2040, all of which see a major rise in renewables.

The IEA's main scenario has 43 percent more solar output by 2040 than it expected in 2018, partly due to detailed new analysis showing that solar power is 20-50 percent cheaper than thought.

The calculation depends on financing figures compared with the amount of output for solar projects. That means that at the same time panel technology gets more efficient and prices for basic panels continue to fall, investors are getting better and better financing deals.

https://fudzilla.com/news/51754-sola...heapest-energy

26th October 2020, 08:02	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,597	Solar power is now the cheapest energy At least for utility companies In a new report, the International Energy Agency (IEA) says solar is now the cheapest form of electricity for utility companies to build. The reason is because of risk-reducing financial policies around the world, the agency says, and it applies to locations with both the most favourable policies and the easiest access to financing. The report underlines how important these policies are to encouraging development of renewables and other environmentally forward technologies. According to the report, which has the catchy title, The World Energy Outlook 2020, there are four 'pathways' to 2040, all of which see a major rise in renewables. The IEA's main scenario has 43 percent more solar output by 2040 than it expected in 2018, partly due to detailed new analysis showing that solar power is 20-50 percent cheaper than thought. The calculation depends on financing figures compared with the amount of output for solar projects. That means that at the same time panel technology gets more efficient and prices for basic panels continue to fall, investors are getting better and better financing deals. https://fudzilla.com/news/51754-sola...heapest-energy

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