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Sunday, April 12, 2015
Solar Energy - Starting to Become Profitable?
Even though I have worked all my life in the oil and gas industry (in accounting), I have always felt that the seeming fight between fossil fuels and alternative energy sources was unnecessary. The reality is that the world simply cannot function without adequate supplies of affordable energy.
The move to develop cleaner sources of energy for the future to supplement fossil fuels should be welcomed by all. There is plenty of room for both to supply demand for many years to come. The problem that solar energy has had so far is that it was too expensive to compete without artificial subsidies. But that may be changing now. We like to report good news when we can find it. This article on how the cost of solar energy is falling may be some good news for the future. Below are some quotes from the article.
"A silent revolution is under way. In November, Dubai announced the construction of a solar energy park that will produce electricity for less than $0.06 per kilowatt-hour – undercutting the cost of the alternative investment option, a gas or coal-fired power plant.
The plant – which is expected to be operational in 2017 – is yet another harbinger of a future in which renewable energy crowds out conventional fossil fuels. Indeed, hardly a week seems to pass without news of a major deal to construct a solar power plant. In February alone, there were announcements of new solar power projects in Nigeria (1,000 megawatts), Australia (2,000 MW), and India (10,000 MW).
There can be no doubting that these developments are good for the fight against climate change. But the major consideration driving them is profit, not the environment, as increased efficiency in energy distribution and, where necessary, storage, reduces the cost of producing renewable energy." . . . . . Read the full article here