A BloombergNEF analysis indicates that solar energy will become the world's leading source of electricity within the next decade. This progress is driven by steadily falling costs and increasing panel efficiency. It is projected that by 2035, the prices of these devices will drop by 30%, making solar generation cheaper than burning coal or gas.
Efficiency and cost reduction: the keys to the energy shift 🔋
Photovoltaic technology is advancing with perovskite cells and bifacial designs that capture more light. BloombergNEF points out that the levelized cost of solar electricity is already competitive in many regions without subsidies. Large-scale manufacturing and improvements in lithium battery storage reinforce this trend. By 2030, global installed capacity could triple, progressively displacing coal plants, which face higher operating costs and environmental regulations.
Goodbye, coal: even the sun is more cost-effective for you ☀️
While oil companies dream of rescuing their investments, the sun is ruining their party. It turns out that putting a panel on your roof is cheaper than keeping a thermal power plant running. And the best part is you don't have to pay gas bills or run public relations campaigns to keep the king star from cutting off your supply. Soon, the only smoke we'll see will be from barbecues.