Solar power had its big comeback two years ago – cheaper solar panels were invented as well as the new roofing for both houses and cars, and energy experts say that was only the beginning.
In the next few years we could probably see the price of solar power falling below $10 per megawatt-hour in parts of the world where there’s plenty of sun.
Thierry Lepercq, Engie SA’s head of research, technology and innovation, said:
“Solar, battery storage, electrical and hydrogen vehicles, and connected devices are in a ‘J’ curve. Hydrogen is the missing link in a 100 percent renewable-energy system, but technological bricks already exist.”
With the rise of renewables, oil prices are expected to drop.
“Even if oil demand continues to climb until 2025, its price could drop to $10 if markets anticipate a significant fall in demand,” he added.
“As carmakers offer more electrical vehicles with a range exceeding 500 kilometres, charging stations being progressively deployed and more cities banning gasoline and diesel cars, a shift will progressively take place.”
People no longer see renewable energy as something reserved for the wealthiest – we are moving further and further away from conventional coal-based sources that should become more expensive in the near future.