Solar Is Going To Change The World Much Faster Than Anyone Expects [View all]

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http://www.businessinsider.com/solar-is-about-to-get-cheaper-than-coal-2013-5

I’ve been getting into Solar lately – the fall in prices has been absolutely shocking over the last 2-4 years.

We are seeing price drops closer to 20% per year after several decades at 6% price drops per year.

6% year is a fantastic rate of decreases, but 20% is simply astonishing. 20% is an impressive number, but putting it into context will make your jaw drop with astonishment.

My calculations show that if solar maintains 5 more years at current 23% rates per year price drops, solar power will be cheaper than using existing coal plants. That’s right – it will be cheaper to build new solar plants than to use existing coal plants. It sounds absolutely crazy.