Solar Energy Had Been Cheapened by 82 Percent in the Last Decade
Green energy sources were perceived as something luxurious and not cost-effective only ten years ago. But this had changed after green energy became internationally widespread.
The International Renewable Energy Agency (IRENA) released a report according to which solar energy had been cheapened by eighty-two percent in the last decade. Once expensive and disadvantaged energy sources became widely-used and effective providing millions of people with green and eco-sustainable energy.
Humanity had spent two hundred and ten billion dollars on renewable energy sources to produce only eighty-eight GWh of energy in 2010. But in 2019 renewable energy sources’ cost has reached two hundred and fifty-three billion dollars producing twice that much energy.
Wind energy had been cheapened by thirty-nine percent during the same period while concentrated solar power stations became forty-seven percent cheaper. Private households had benefited a lot from such cheapening too. Solar panels’ installation became eighty percent cheaper compared with 2010.
Solar energy is cheap and clean while fossil-fueled power plants produce dirty energy and expensive energy
For example, a recent study has conducted that new coal-fired power plants will never pay off due to the lack of fossil resources and the extreme affordability of green energy.
Reasons for such cheapening lie in extensive usage of renewable energy sources, intense competition, vast investments, and technological development. Solar energy became something usual for developed and developing countries.
Solar energy is the most used in the USA, Spain, Italy, South Korea, and China. The construction of power plants that use fossil fuels is way more expensive than the construction of renewable energy power plants.
Renewable energy sources are based on the endless and pure power of natural elements. The amount of green energy that could be produced is unlimited and doesn’t threaten the Earth or humanity. Green energy is safe and cost-effective while fossil power plants cause the destruction of landscape, water and air contamination, environmental pollution, combustion products emission, and creation of a stifling environment.
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