As Cost Plunges, Solar Power is Ready to Surpass Coal
The cost of solar energy is expected to drop 66 percent by 2040.
Solar power is among the easiest ways for individuals to hop on the clean energy generation train. There are many incentives afforded to homeowners who are looking to make the switch to solar power. Even more, it is only getting cheaper to produce, install, and operate this technology. And with the advent of Tesla’s solar power generating roofing tiles, the process is getting a welcome aesthetic upgrade on top of all of the fantastic vertical integration their technology provides.
This boom is going to continue pushing solar power to the forefront of clean energy initiatives, as the cost of solar energy is expected to drop 66 percent by 2040. Furthermore, a report from Bloomberg states that in just four years’ time, solar power will finally be cheaper than coal “almost everywhere.” The report also claims that by 2040, up to 20 percent of Brazil’s power will be generated by the sun, and Germany will be at 15 percent.