As a student of solar energy or a person that is considering the solar industry as a career path it is important to understand the driving forces behind the advancements of solar power technology. The first place to start is the economics of the global energy market and specifically the trending costs for all types of energy.
The cost for wind generated electricity is mostly stable today and will remain so unless some new advancement in efficiency, maintenance or technology arrive to drive it lower. In the US today wind energy generated electricity is the cheapest form of electricity even without the renewable energy tax credits. In fact in Texas, utilities are cancelling natural gas generator projects in favor of wind turbines.
The cost for nuclear power is on a steady increase with regulation and safeguards associated with the risks to society.
The price for natural gas is very low around the world. However it is based on fracking technology and it is becoming increasingly difficult to predict the price in the future. For natural gas generated electricity this means the price is also becoming hard to predict.
The Price For Solar Power Plants
The price for solar power is continuing to decrease. Solar PV is a semiconductor technology and we all know what has happened to the price for electronics in the last 2o years right. Based on this solar will continue to get cheaper and cheaper.
Over eighty percent of the energy used worldwide today is from fossil fuels. That’s a changing paradigm though as renewable energy continues to gain momentum, and proven technologies such as solar power are rapidly growing more cost effective and efficient.
In this video training we join Dr. Buttgenbach as he explains why photovoltaic (PV) power plants are becoming mainstream, and what economic and technological factors are driving this growth. Topics discussed will include national and global renewable trends, irradiance patterns, solar pricing vis-?à-?vis natural gas, energy storage, distributed versus utility generation, and more.
This session will appeal to renewable energy experts and novices alike.
Tom Buttgenbach, Ph.D.
President and Co-Founder, 8minutenergy Renewables
Detlof von Winterfeldt
Director, Center for Risk and Economic Analysis of Terrorism Events
Global Director, Schwarzenegger Institute for State & Global Policy
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