Solar Energy Now Cheapest at £0.02 per Watt, Driving Global Shift
A groundbreaking study by Imperial College London reveals that solar energy costs as little as £0.02 per watt in the sunniest countries. This remarkable finding, coupled with advancements in extra space storage and national grid management, is driving the global shift towards clean, renewable power.
Solar photovoltaic (PV) technology is leading this transition. It's now the cheapest option for large-scale energy generation, even in the UK. By 2024, global installed solar power surpassed 1.5 terawatts, enough to power hundreds of millions of homes.
Solar-plus-storage systems are making solar energy more reliable and dispatchable. The price of lithium-ion batteries has plummeted by 89% since 2010, making these systems cost-effective alternatives to gas power plants. Innovations like perovskite solar cells could further boost solar output by up to 50% without increasing land use.
However, connecting large amounts of solar power to existing grids poses challenges. Grid congestion and wasted energy are issues in regions with high solar generation. Smart grids, AI forecasting, and stronger regional links are crucial to maintain power system stability as renewable energy use increases.
Consistent, long-term policy support and international collaboration are vital to accelerate the world's transition to a clean and reliable energy system. With solar energy now cheaper than coal, gas, or wind, and storage units near me solutions becoming increasingly affordable, the path towards a sustainable future is clearer than ever.
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