Paul Krugman wrote Monday that we’re “on the cusp of an energy transformation, driven by the rapidly falling cost of solar power.” Then I happened to see this piece from Forbes, which actually surprised me:
When GE’s director of global research predicted today that in just five years solar-generated electricity will be cheaper than power from fossil fuels and nuclear power, he was repeating forecasts heard from many other sources over the last several months.
A study by Duke University researchers last year even claimed that solar has already reached grid parity with nuclear in some areas (although some critics questioned the report’s methodology).
The cost of solar power has already been reduced dramatically — because of technological innovations like “thin film” solar… and utility scale concentrated solar power that uses molten salt to store energy for hours after the sun sets.
And, as GE’s Mark Little said in his interview with Bloomberg, more innovations are in the pipeline and will help drive down the cost of solar power even more.