Since we like to bring positivity through our writings, we are pleased to announce that the cost of solar power is now decreasing impressively fast. It’s now officially cheaper than coal. If you don’t believe us, you should take a look at the statistics. A report from Lazard shows that the cost of producing one megawatt-hour of electricity is now around $50 for solar power. Whereas, electricity from coal, costs $120. That’s more than the double cost of solar.
The rapidly declining cost of solar is a sign to the world that we are on the verge of a dramatic change in how we power building and vehicles. There will be a shift towards renewable sources such as wind and solar. Thus, we move away from fossil fuels like oil and coal.
There’s no hiding the fact that changing our energy system to sustain clean sources is one way to slow down climate change. Especially because emissions from fossil fuels will cause more heat to get trapped on our precious and fragile planet.
What Does The Future Look Like
Having renewable energy seems like it’s finally plausible what once was only a thought. The young energy analyst named Amory Lovins has made us think about energy strategy through his writing. The Energy Strategy: The Road Not Taken? Through this writing, we have experienced the movement from legacy fuels towards clean, cheap low-carbon and energy efficiency.
Nowadays we see people asking the question differently. We no longer ask whether renewable energy will resource our future economy, but rather, how fast can we reach a low-carbon future? The clean and safe future of electricity cannot be stopped. It’s here to change what was once thought.
Big Businesses Are All-In
Corporate renewable energy buyers reached a cumulative 10 gigawatts of new renewable energy projects. Thus, corporates are backing renewable projects to power an equivalent of more than 7 million homes. In addition to this, numerous companies, regardless if they are big or small, they are choosing to power their operations through renewable energy. It’s much cheaper and it’s good for the planet so what more do you want?
High-tech players such as Google and Facebook to heavy-industrial such as Cummin and auto manufacturers such as General Motors are all investing in renewable energy. Combined, these businesses contracted for 3.11GW of power last year.
In the future, we are likely to see more companies relying on power their operations to renewable energy. In addition to this, as more people with money are investing into it, we are likely to develop new ways that are much cleaner and more practical.
Oil, gas…and renewable?
If you still don’t believe us, here’s another fact for you. Big oil and gas companies such as Shell, BP, and Exxon is starting to show increasingly big interested into renewable energy. Even if they fell under the pressure of their key shareholders. In fact, in 2017, Shell has announced an investment of up to $217 million in a Nashville-based solar company. In addition to this, BP has announced that it plans to invest $200 million in a major European solar developer.
As more people find out that it’s actually much cheaper than fossil fuels, it’s inevitable that we will see more people from developed countries bringing their attention to renewable energy. This is why companies are beginning to develop products that never have to be charged. Yes, you read that right. You no longer have to waste time meaninglessly whilst waiting for your phone or laptop to fully charge so you can go on with your day.
Portable solar chargers are used to charge cell phones and other small electronic devices on the go. This year, Logitech has developed the keyboard you never have to charge. The only way it gets charged is through the energy obtained from the sun.