{"id":14358,"date":"2020-05-28T09:51:30","date_gmt":"2020-05-28T09:51:30","guid":{"rendered":"https:\/\/ecotality.com\/?p=14358"},"modified":"2020-09-09T12:45:54","modified_gmt":"2020-09-09T12:45:54","slug":"solar-becomes-the-cheapest-power-source-for-most","status":"publish","type":"post","link":"https:\/\/ecotality.com\/solar-becomes-the-cheapest-power-source-for-most\/","title":{"rendered":"Solar Officially Becomes the Cheapest Power Source for Most"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"14358\" class=\"elementor elementor-14358\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-88f08f2 lead-section elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"88f08f2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2e9b627\" data-id=\"2e9b627\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5a8449f article-title elementor-widget elementor-widget-heading\" data-id=\"5a8449f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Solar Officially Becomes the Cheapest Power Source for Most<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-59e4205 toc-and-author-bio-section elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"59e4205\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-a76fab4 left-column\" data-id=\"a76fab4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-963be9d table-of-contents elementor-widget elementor-widget-shortcode\" data-id=\"963be9d\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-shortcode\"><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_55 counter-hierarchy ez-toc-counter ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/ecotality.com\/solar-becomes-the-cheapest-power-source-for-most\/#Then-Now-and-Then\" title=\"Then, Now and Then\">Then, Now and Then<\/a><\/li><\/ul><\/nav><\/div>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-ca3eec6 right-column\" data-id=\"ca3eec6\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d091abe author-bio elementor-widget elementor-widget-shortcode\" data-id=\"d091abe\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-shortcode\"><script type=\"application\/ld+json\">\n\t\t\t\t\t\t\t{\n\t\t\t\t\t\t\t  \"@context\": \"https:\/\/schema.org\/\",\n\t\t\t\t\t\t\t  \"@type\": \"Person\",\n\t\t\t\t\t\t\t  \"name\": \"Aniket\",\n\t\t\t\t\t\t\t  \"url\": \"https:\/\/ecotality.com\/author\/aniket\/\",\n\t\t\t\t\t\t\t  \"image\": \"https:\/\/secure.gravatar.com\/avatar\/324fd7f9d0b3e667f7223919e56f046a?s=96&d=mm&r=g\",\n\t\t\t\t\t\t\t  \"jobTitle\": \"Author\"  \n\t\t\t\t\t\t\t}\n\t\t\t\t\t\t\t<\/script><p><img decoding=\"async\" loading=\"lazy\" class=\"author-bio-avatar\" src=\"https:\/\/secure.gravatar.com\/avatar\/324fd7f9d0b3e667f7223919e56f046a?s=50&amp;d=mm&amp;r=g\" alt=\"Aniket\" width=\"50\" height=\"50\" \/><\/p><p class=\"author-bio-text\"><span class=\"written-by-text\">Written by<\/span> <span class=\"job-title\">qualified solar engineer<\/span> <span class=\"author-name\">Aniket<\/span><span class=\"written-by-period\">.<\/span> <span class=\"last-updated-text\">Last updated:<\/span> <time datetime=\"2020-09-09 12:45:54\">September 9, 2020<\/time><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4caed31 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4caed31\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b3770e9\" data-id=\"b3770e9\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5ff3f74 elementor-widget elementor-widget-text-editor\" data-id=\"5ff3f74\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>A new <a href=\"https:\/\/about.bnef.com\/blog\/scale-up-of-solar-and-wind-puts-existing-coal-gas-at-risk\/?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=newsletter_axiosgenerate&amp;stream=top\" target=\"_blank\" rel=\"noopener\">Bloomberg NEF study<\/a> shows that prices for solar power have reached a record low. Solar PV, along with onshore wind are now the cheapest energy sources for two thirds of the world\u2019s population. The interesting fact is that these two thirds of the population consumes 85% of the energy. This means that the majority of the energy consuming population now has solar PV as the cheapest energy source.<\/p>\n<p>The study also shows that the greatest dip in the Levelized Cost of Electricity (LCOE) for utility-scale solar PV and wind came in the second half of 2019. Solar prices in this half of the year fell by 4% to a new low of $50\/MWh. This is an indication of how renewables and particularly solar can dominate the coming decades.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Then-Now-and-Then\"><\/span>Then, Now and Then<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Only a decade ago, the average LCOE prices for solar power were 0.360 USD\/kWh, translating to $360\/MWh &#8211; an almost unbelievably high number by today\u2019s standards. By 2017, this number had dropped down 73% to $50\/MWh. Less than three years later, solar is at its all-time low.<\/p>\n<p>While the $50\/MWh price is an average value of the sample size, some countries, such as India and Brazil, have seen very low prices in the range of $35\/MWh. BNEF also believes that globally, prices of $23-29\/MWh are achievable in the coming years.<\/p>\n<p><picture><source srcset=\"https:\/\/ecotality.com\/wp-content\/uploads\/map-of-cheapest-source-of-electricity-1H.webp 740w,https:\/\/ecotality.com\/wp-content\/uploads\/map-of-cheapest-source-of-electricity-1H-300x142.webp 300w\" sizes=\"(max-width: 740px) 100vw, 740px\" type=\"image\/webp\"><img src=\"https:\/\/ecotality.com\/wp-content\/uploads\/map-of-cheapest-source-of-electricity-1H.jpg\" height=\"350\" width=\"740\" srcset=\"https:\/\/ecotality.com\/wp-content\/uploads\/map-of-cheapest-source-of-electricity-1H.jpg 740w, https:\/\/ecotality.com\/wp-content\/uploads\/map-of-cheapest-source-of-electricity-1H-300x142.jpg 300w\" sizes=\"(max-width: 740px) 100vw, 740px\" class=\"aligncenter size-full wp-image-14371 sp-no-webp\" alt=\"map of cheapest source of electricity, 1H\" decoding=\"async\" loading=\"lazy\"  > <\/picture><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 20px;\">Country-wise cheapest bulk-energy source (Source \u2013 <a href=\"https:\/\/about.bnef.com\/blog\/scale-up-of-solar-and-wind-puts-existing-coal-gas-at-risk\/?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=newsletter_axiosgenerate&amp;stream=top\" target=\"_blank\" rel=\"nofollow noopener\">BloombergNEF<\/a>)<\/span><\/p>\n<p>But what is more important is not the absolute price of solar, but how it compares with coal. Figures in 2019-20 have been important in that respect. Solar has forever been in a race with coal and oil, and at some point, it was so vastly behind that nobody thought it could catch up. Today, solar has finally taken over coal with regard to pricing.<\/p>\n<p>China, for example, which is the world\u2019s greatest manufacturer and deployer of solar power, has an average LCOE of $35\/MWh, and the LCOE of coal in China is at $38\/MWh. This is the case in most other countries as well.<\/p>\n<p>The reason for this, according to BNEF report author Tiffen Brandily, is twofold. The first being the rapid advancement in technology. For instance, the <a href=\"https:\/\/ecotality.com\/most-efficient-solar-panels\/\">efficiency of solar panels<\/a> has increased from less than 10% to 20% and above in the last 15 years alone. This is remarkable for a technology that started more than <a href=\"https:\/\/ecotality.com\/history-of-solar-panels\/\">60 years ago<\/a> but hadn\u2019t seen this level of development for the majority of its time. Secondly, scaling up projects has proved savings in cost for developers, ultimately resulting in lower prices.<\/p>\n<p>These two factors have controlled the growth of the solar sector and will continue to do so. Considering several global economic and political factors, it would be no surprise to see solar emerge as the primary energy source in most, if not all countries.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-adaee28 references-section elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"adaee28\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fae992a\" data-id=\"fae992a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-63ba581 references-heading elementor-widget elementor-widget-heading\" data-id=\"63ba581\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">References<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2c63eaf references elementor-widget elementor-widget-text-editor\" data-id=\"2c63eaf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ol>\n<li><a href=\"https:\/\/www.irena.org\/Statistics\/View-Data-by-Topic\/Costs\/LCOE-2010-2017\" target=\"_blank\" rel=\"nofollow noopener\">LCOE 2010-2017<\/a> &#8211; IRENA<\/li>\n<li><a href=\"https:\/\/fortune.com\/2016\/12\/15\/solar-electricity-energy-generation-cost-cheap\/\" target=\"_blank\" rel=\"nofollow noopener\">This Just Became the World\u2019s Cheapest Form of Electricity Out of Nowhere<\/a> &#8211; Fortune<\/li>\n<\/ol>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-513533f post-rating-section elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"513533f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-72f6be6\" data-id=\"72f6be6\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f32531a post-rating elementor-widget elementor-widget-shortcode\" data-id=\"f32531a\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-shortcode\"><!-- Rate my Post Plugin --><div  class=\"rmp-widgets-container rmp-wp-plugin rmp-main-container js-rmp-widgets-container js-rmp-widgets-container--14358 \"  data-post-id=\"14358\">    <!-- Rating widget -->  <div class=\"rmp-rating-widget js-rmp-rating-widget\">          <p class=\"rmp-heading rmp-heading--title\">        We hope you liked this article. Please rate it or leave us a comment.      <\/p>            <div class=\"rmp-rating-widget__icons\">      <ul class=\"rmp-rating-widget__icons-list js-rmp-rating-icons-list\">                  <li class=\"rmp-rating-widget__icons-list__icon js-rmp-rating-item\" data-descriptive-rating=\"Not at all useful\" data-value=\"1\">            <i class=\"js-rmp-rating-icon rmp-icon rmp-icon--ratings rmp-icon--star rmp-icon--full-highlight\"><\/i>          <\/li>                  <li class=\"rmp-rating-widget__icons-list__icon js-rmp-rating-item\" data-descriptive-rating=\"Somewhat useful\" data-value=\"2\">            <i class=\"js-rmp-rating-icon rmp-icon rmp-icon--ratings rmp-icon--star rmp-icon--full-highlight\"><\/i>          <\/li>                  <li class=\"rmp-rating-widget__icons-list__icon js-rmp-rating-item\" data-descriptive-rating=\"Useful\" data-value=\"3\">            <i class=\"js-rmp-rating-icon rmp-icon rmp-icon--ratings rmp-icon--star rmp-icon--full-highlight\"><\/i>          <\/li>                  <li class=\"rmp-rating-widget__icons-list__icon js-rmp-rating-item\" data-descriptive-rating=\"Fairly useful\" data-value=\"4\">            <i class=\"js-rmp-rating-icon rmp-icon rmp-icon--ratings rmp-icon--star rmp-icon--half-highlight js-rmp-replace-half-star\"><\/i>          <\/li>                  <li class=\"rmp-rating-widget__icons-list__icon js-rmp-rating-item\" data-descriptive-rating=\"Very useful\" data-value=\"5\">            <i class=\"js-rmp-rating-icon rmp-icon rmp-icon--ratings rmp-icon--star \"><\/i>          <\/li>              <\/ul>    <\/div>    <p class=\"rmp-rating-widget__hover-text js-rmp-hover-text\"><\/p>    <button class=\"rmp-rating-widget__submit-btn rmp-btn js-submit-rating-btn\">      Submit Rating    <\/button>    <p class=\"rmp-rating-widget__results js-rmp-results \">      Average rating <span class=\"rmp-rating-widget__results__rating js-rmp-avg-rating\">3.7<\/span> \/ 5. 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Be the first to rate this post.    <\/p>    <p class=\"rmp-rating-widget__msg js-rmp-msg\"><\/p>  <\/div>  <!--Structured data -->  <script type=\"application\/ld+json\">{  \"@context\": \"http:\/\/schema.org\",  \"@type\": \"Product\",  \"aggregateRating\": {    \"@type\": \"AggregateRating\",    \"bestRating\": \"5\",    \"ratingCount\": \"3\",    \"ratingValue\": \"3.7\"  },  \"image\": \"https:\/\/ecotality.com\/wp-content\/uploads\/Image-of-the-earth-covered-in-solar-panels-e1590667492851.jpg\",  \"name\": \"Solar Officially Becomes the Cheapest Power Source for Most\",  \"description\": \"Solar Officially Becomes the Cheapest Power Source for Most\"}<\/script>      <\/div><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Solar Officially Becomes the Cheapest Power Source for Most A new Bloomberg NEF study shows that prices for solar power have reached a record low. Solar PV, along with onshore wind are now the cheapest energy sources for two thirds of the world\u2019s population. The interesting fact is that these two thirds of the population &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/ecotality.com\/solar-becomes-the-cheapest-power-source-for-most\/\"> <span class=\"screen-reader-text\">Solar Officially Becomes the Cheapest Power Source for Most<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":14,"featured_media":14379,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"right-sidebar","site-content-layout":"plain-container","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"","_glsr_average":0,"_glsr_ranking":0,"_glsr_reviews":0},"categories":[6],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Solar Officially Becomes the Cheapest Power Source for Most - ecotality.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ecotality.com\/solar-becomes-the-cheapest-power-source-for-most\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Solar Officially Becomes the Cheapest Power Source for Most - ecotality.com\" \/>\n<meta property=\"og:description\" content=\"Solar Officially Becomes the Cheapest Power Source for Most A new Bloomberg NEF study shows that prices for solar power have reached a record low. Solar PV, along with onshore wind are now the cheapest energy sources for two thirds of the world\u2019s population. The interesting fact is that these two thirds of the population &hellip; Solar Officially Becomes the Cheapest Power Source for Most Read More &raquo;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ecotality.com\/solar-becomes-the-cheapest-power-source-for-most\/\" \/>\n<meta property=\"og:site_name\" content=\"ecotality.com\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-28T09:51:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-09-09T12:45:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ecotality.com\/wp-content\/uploads\/Image-of-the-earth-covered-in-solar-panels-e1590667492851.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"740\" \/>\n\t<meta property=\"og:image:height\" content=\"384\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Aniket\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Aniket\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ecotality.com\/solar-becomes-the-cheapest-power-source-for-most\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ecotality.com\/solar-becomes-the-cheapest-power-source-for-most\/\"},\"author\":{\"name\":\"Aniket\",\"@id\":\"https:\/\/ecotality.com\/#\/schema\/person\/1ed69e03b50b4dce7bb954bf1c5bdc72\"},\"headline\":\"Solar Officially Becomes the Cheapest Power Source for Most\",\"datePublished\":\"2020-05-28T09:51:30+00:00\",\"dateModified\":\"2020-09-09T12:45:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ecotality.com\/solar-becomes-the-cheapest-power-source-for-most\/\"},\"wordCount\":505,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ecotality.com\/#organization\"},\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ecotality.com\/solar-becomes-the-cheapest-power-source-for-most\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ecotality.com\/solar-becomes-the-cheapest-power-source-for-most\/\",\"url\":\"https:\/\/ecotality.com\/solar-becomes-the-cheapest-power-source-for-most\/\",\"name\":\"Solar Officially Becomes the Cheapest Power Source for Most - 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