The economics of Solar

PV technology is getting cheaper and better

As the economics of solar have improved, deployment has flourished.
IN 2004 the world had about 2.6 GW of PV capacity, today it is more than 200GW, and predicted to be 600GW by 2030.

Subsidies

A new study by the International Monetary Fund puts the total cost of fossil fuel subsidies at approximately $10 million a minute globally, when health costs and environmental degradation are included.

The International Energy Agency in a report from August 2015 shows that renewable sources can produce electricity at close to or even below the cost of new fossil fuel-based power stations.

“Today, it’s possible to save money, or at least not spend extra money, and drive more renewable energy on the grid,” said Bill Weihl, director of sustainability at Facebook, which aims to get 100 percent of its energy from renewable sources.

In 14.5 seconds, the sun provides as much energy to Earth as humanity uses in a single day.

Covering an area of 366,375km2 with PV cells

Could provide enough energy for our yearly demands.

That’s roughly the size of Germany, or 0.2% of the Earths total land surface.

“Even more than saving money, it’s about protecting against future volatility.”-Christina Page, global director of energy and sustainability at Yahoo

The U.S. solar industry currently provides opportunities for nearly 209,000 solar workers in all 50 states and is creating jobs at a rate 12 times higher than employment growth in the overall economy.

The solar workforce is larger than some well-established fossil fuel generation sectors, such as the oil and gas extraction industry, which shed 13,800 jobs in 2015. The oil and gas pipeline construction industry, lost 9,500 jobs (BLS.gov) during the same period.

Through its clean energy programs of buying solar, wind, landfill biogas, and other clean technologies, General Motors (GM) has achieved more than $80 million in savings since 1993. Plus, additional branding benefits.

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