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Toluna

Toluna

  1 month ago

Solar energy is now the cheapest energy source available
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In a new report, the International Energy Agency (IEA) says solar energy is now the cheapest energy source available.
This extraordinary statement is part of the IEA's World Energy Outlook (WEO) 2020, published each year, and includes detailed analyses of the world's energy system.

With the introduction of mandatory lockdowns in almost all countries, oil production stopped in many places, but the generation of energy from renewable sources was the only one that continued to grow in 2020, since it did not depend on human hands, like oil.

The report thus states that solar energy is on track to dominate a large share of the energy market over the next decade, as prices will continually decline. For example, the European Union plans to produce 32% of its energy from renewable sources by 2030, and a large part of it will come from solar energy.

According to the report, in almost all countries it is now more affordable to invest in solar power plants than in new gas or coal-fired power plants.
What is causing the cost to decrease? This is due to many factors but may be explained by the advances in technology and investor confidence, then government policies and tax incentives sweeten the business.

The statistic says that solar energy will be in the next 10 years ""20 to 50% cheaper"", based on a calculation of companies that are building solar projects.
""I see the sun becoming the new king of world electricity markets,"" said Fatih Birol, executive director of the IEA, quoted by Reuters. The head of the entity also points out that solar energy should set new annual implementation records after 2022.

What do you think? Do you think solar energy is the future?

Do you think we could be using mostly renewable energies in the next decade?

Influence your world,
Toluna Team
Reply

E6798606q67

  8 days ago
A friend was considering solar, but at $70,000 cost, and payments for 25 years, she scratched that idea.
0 comments

pjaysmitty

  1 month ago
A friend was considering solar, but at $70,000 cost, and payments for 25 years, she scratched that idea.
0 comments

echien

  1 month ago
A lot of people are using solar energy.
0 comments

S1257642a

  1 month ago
Sadly solar is not cheap nor free! A major misnomer
0 comments

Mielle13

  1 month ago
That Is Great News! Anything To Use And Harvest Our Own Energy Is A Plus!
0 comments

verena.gawron

  1 month ago
We should be using solar energy.Renewable energy is the best for the environment.
0 comments

pc1976

  1 month ago
We have been considering installing solar panels but they are very expensive.
0 comments

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