Solar Power Costs Will Halve in 10 Years
The trend of solar power getting steadily less expensive is set to continue over the next decade—in sunny parts of the world it is already starting to compete with coal production.
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New technology and streamlined manufacturing processes are making solar technology a competitive alternative to fossil fuel production. In the coming years renewable energy will be price competitive with coal production even without government subsidies, according to Bloomberg’s New Energy Finance. As the price of fossil fuels continues to climb, production of photovoltaic solar cells is becoming cheaper thanks to technological innovation and streamlined production lines. Chinese companies are having particular success in these areas.
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