It’s time to stop thinking of solar energy as a boutique source of power, says Joshua Pearce.
Sure, solar only generates about one percent of the electricity in the US. But that will change in a few years, says Pearce, an associate professor of electrical engineering and materials science at Michigan Technological University. The ultimate in renewable energy is about to go mainstream.
It’s a matter of economics. A new analysis by Pearce and his colleagues at Queen’s University in Kingston, Ontario, shows that solar photovoltaic systems are very close to achieving the tipping point: they can make electricity that’s as cheap—sometimes cheaper—as what consumers pay their utilities.
Here’s why. First, the price of solar panels has plummeted. “Since 2009, the cost has dropped 70 percent,” says Pearce. But more than that, the assumptions used in previous studies have not given solar an even break.
“Historically, when comparing the economics of solar and conventional energy, people have been very conservative,” says Pearce.
Read the complete article at Environmental Protection Online