Oh that cute little solar industry…it grows up so fast.
The short version:
- Solar and wind power are outgrowing the need for government subsidies.
- Developers in Spain and Italy are building solar farms without subsidies.
- China plans to stop subsidizing new wind farms in the near future.
- As wind and solar demonstrate they can compete on their own against coal- and natural gas-fired plants, the economic and political arguments in favor of carbon-free power become harder and harder to refute.
- “Solar got cheap, it’s really that simple.” – Jenny Chase, an analyst at BNEF.
- Wind and solar still only accounted for about 7% of electricity generation worldwide last year.
This article is meaty but worth the read. For many, it can be hard to think of a program that started with heavy government subsidies and successfully moved away from them. That’s why solar (and wind) is so exciting. It’s good for the economy and the environment. Those two don’t line up very often.