Somewhere Elon Musk is probably jumping for joy like a kid that just got a Nintendo 64. According to The Bloomberg New Energy Finance (BNEF) year-end assesment, solar power is now officially hovering around half the price of coal and gas. This also makes it cheaper than wind energy, and soon it could be the cheapest source of electricity.
Often criticized by Trump and other political leaders as being too expensive, that claim doesn’t really hold up anymore. As for the long-term impact, BNEF expects gas and coal to stay low. Despite this fact, renewable energy sources are still expected to keep plummeting. Even without subsidies on the source, experts still maintain that solar will remain on the cost-reduction track through 2040 and beyond.
Technology even exists to make sure that solar energy that can be acquired at night. The Cresecent Dunes project is effective at gathering solar energy through using a concentrated central tower that stores “molten salt.” The mirrors all face towards a central tower that heats this salt to eventually power a steam turbine. Due to the ability of energy storage, the molten salt can continue to power the turbine even when it is not being heated by the solar panels.
Although the political climate is not tenable to the current belief in renewable energy sources, the writing may be already on the wall. Trump put a freeze on the EPA’s twitter account, suggesting that he might do anything to halt the green revolution. Even someone as daft as Trump will be pliable to the viability of the business of green energy. Where the money goes, the politicians are sure to follow.
So if you are fearful about the future of our world, fear a little less. There is quite a bit of evidence to suggest the things that need to happen are already on their way.