Most people hate goodbyes. They usually mean a big change with important people and experiences coming and going. You might even feel sad or depressed because you’re saying goodbye. But one goodbye in the solar energy world prompts toothy grins and giggles: decreasing solar costs!
In only five months, solar energy costs plummeted 25%! Several factors have spurred this steep nosedive, resulting in competitively low solar prices.
Decreasing Solar Costs
Recent construction companies in Dubai set a bid as low as $.023 per kilowatt hour! And building projects dip even more deeply with decreasing costs in equipment and building materials. With all of these recent plunges in solar cost, it’s no wonder that people are paying a quarter less today than they did a year ago.
Frank Wouters, the previous director of Masdar Clean Energy, says, “There’s no reason why the cost of solar will ever increase again.”
Countries may also be spurring the cost decrease. China gives its residents incentives for solar projects, and Costa Rica dedicates its resources to renewable energy. Costa Rica even ran on a combination of solar energy and other sources for 299 days in 2015.
Countries that soak up the most sunshine need fewer panels or smaller systems. These sunny regions spend less on solar energy upfront and still reap all its glory, making solar costs even more affordable for residents. The worldwide trend toward solar energy is lowering the overall cost as going solar spreads in popularity.
We understand why the world loves solar’s energy efficiency. A farm in Nevada anticipates an average $.04 per kilowatt hour, and they aren’t the only US building running on low energy costs. As solar costs continue to dive, the next big question in its energy is not its price tag. The biggest question is effective solar storage.
So go ahead. Start waving goodbye to high solar costs. And while you’re at it, give your best wishes to your utility company and say hello to energy freedom!
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