Solar has become the most cost effective electricity source

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6. For new builds in less developed countries

The overall shift to clean energy can be more expensive in wealthier nations, where electricity demand is flat or falling and new solar must compete with existing billion-dollar coal and gas plants. But in countries that are adding new electricity capacity as quickly as possible, “renewable energy will beat any other technology in most of the world without subsidies,” said Liebreich.

The shift to LED lighting and other energy efficiencies are having a major impact on demand in developed countries.