National Bank of Abu Dhabi: Even at $10 Per Barrel, Oil Can’t Match Solar on cost

Game-over
Some people might think that the recent drop in oil price is bad for the solar industry, that it’ll slow down investment and reduce demand for clean energy. There might be some truth to that in the short-term, but the long-term trend is clear: Solar is going to take over the world.
Why? Because of this:

The  cost of a watt of electricity generated from PV since 1977

The cost of a watt of electricity generated from PV since 1977

The chart above shows the price of various energy sources since the late 1940s, and as you can see, at that scale there isn’t much variation. Even oil’s big moment in the 1970s embargo and in the recent years look like pretty small bumps in the road. And then you have solar power that comes in crashing down toward the end. Before then it wasn’t even on the charge because the price was above the shown range.

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Categories: Solar

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