Solar Energy Predicted To Be Cheapest Power Source By 2025

A recent study done by a German think tank proposes that solar energy will be the cheapest source of power in the world by 2025.

In a report by Agora Energiewende, solar power is predicted to overtake all other sources of energy as the least expensive option. The study expects energy from utility scale solar to cost between 4 and 6 cents per kilowatt hour.

It is worth noting that the German think tank is independent and made its conclusions based on conservative figures.

Many places in the world that get ample sunshine, like Dubai, are already taking advantage of cheap solar prices. A recent power purchase contract was signed in Dubai for 5 cents per kilowatt hour.
utility scale solar power
Dr. Patrick Graichen, the CEO of Agora Energiewende, has stated that “The technology still has further improvements so we expect that within the next 10 years photovoltaics will become, in many regions of the world, the cheapest source of electricity.” The improvements mentioned are largely due to cost reductions in the production of solar panels.

Graichen and other solar energy advocates in Germany find it difficult to understand why most of the rest of the world have not embraced solar as much as their country has. Australia is a notable example of a country that has yet to adopt solar power, but it is a great candidate as it receives ample sunshine. A total of 6 percent of Germany’s energy comes from solar pv. While not much right now, solar installations are still in the beginning stages.

While Solar-Power-Now.com primarily focuses on the American residential solar industry, it is good to get solar cost comparisons at all scales and locations.

The real news story is even better. We don’t have to wait until 2025 for solar power to be the best option – it already is for American homeowners. As mentioned in the cost of solar page, the price for solar power is already cheaper than conventional energy. Net metering has much to with this. Homeowners can expect to pay no more than 8 cents per kilowatt hour over the life of a solar panel system.

Many of the energy cost comparison studies also do not take into account environmental costs. The full costs and impacts of fossil fuel use makes it vastly more costly than renewable energy.

The final piece of the puzzle for a renewable energy source like solar power to fully replace fossil fuels like coal and natural gas is a mature battery storage technology. The good news is that it is just a matter of time before battery storage technologies are economically viable at the residential and utility scale.

To sum up, we do not have to wait until 2025 to take advantage of the enormous energy bounty that solar power represents. Individuals and corporations alike are already beginning to harness the sun’s energy at cost competitive rates.

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8 Responses to Solar Energy Predicted To Be Cheapest Power Source By 2025

  1. JR Hall says:

    Greate article – we are looking forward to extended growth here in the midwest also as prices continue to drop and the many federal and state tax credits the customers can receive.

    • nickt says:

      Hi JR. I have no doubt that solar power will grow real soon in the midwest, as well as the rest of the country. We are witnessing the very beginning of a massive solar powered revolution.

  2. It’s a great thing solar power is advancing all over the world. This kind of technology will help lots of people on their electricity bills. Anytime soon, it will be the world’s leading technology to be used inside the house for energy energy concerns.

  3. thermalmode says:

    In conclusion, the future of solar energy looks promising as it is predicted to become the cheapest power source by 2025. This projection is based on the continuous advancements in solar technology, decreasing costs of solar panels, and the growing global demand for clean and sustainable energy sources. With solar energy becoming more affordable and accessible, it has the potential to revolutionize the energy industry and contribute significantly to reducing greenhouse gas emissions. The shift towards solar power not only offers economic benefits but also helps in mitigating the effects of climate change and creating a greener and more sustainable future.

  4. Raid Bucker says:

    In conclusion, solar energy is predicted to become the cheapest power source by 2025. With advancements in technology and increasing investments in renewable energy, solar power has become more efficient and cost-effective. The decreasing costs of solar panels and the availability of sunlight in most regions make solar energy a viable and sustainable option for meeting our power needs. This transition to solar energy will not only help reduce greenhouse gas emissions but also create new job opportunities and promote a cleaner and greener future for our planet.

  5. Earl of Arms says:

    In conclusion, solar energy is predicted to become the cheapest power source by 2025. This projection is based on the continuous advancements and decreasing costs in solar technology. With its abundant availability and renewable nature, solar energy has the potential to revolutionize the global energy landscape. The increasing affordability of solar power will not only drive economic growth but also contribute significantly to the reduction of greenhouse gas emissions. As we move towards a more sustainable future, solar energy emerges as a promising solution to address the growing energy demands while mitigating the impacts of climate change.

  6. Lady In Red says:

    In conclusion, solar energy is projected to become the most affordable power source by 2025. With advancements in technology and increasing investments in renewable energy, solar power has the potential to revolutionize the energy industry. Its decreasing costs and environmental benefits make it an attractive option for both individuals and businesses. As countries around the world strive to reduce their carbon footprint and transition towards sustainable energy solutions, solar energy is poised to play a crucial role in achieving these goals.

  7. Freak says:

    In conclusion, the future of solar energy looks promising as it is predicted to become the cheapest power source by 2025. This is a significant development in the renewable energy sector, as it not only offers a sustainable solution but also demonstrates the potential for cost-effectiveness. With advancements in technology and increased investment in solar infrastructure, we can expect solar energy to play a crucial role in meeting the world’s energy needs while reducing carbon emissions. As we move towards a greener and more sustainable future, solar energy will undoubtedly be at the forefront of the global energy transition.

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