In 2016 solar power was cheaper than traditional electricity

Nguyen-Xuan-Hung 30/10/2021

According to the World Economic Forum (WEF), the price of solar and wind power is already equal to or lower than the price of electricity made from fossil fuels in more than 30 countries around the world.

According to the news website QZ (USA), the report just published in December 2016 of the WEF said that the price of wind power and solar power continued to fall sharply. Two-thirds of the more than 30 countries mentioned above will reach the so-called “grid parity” milestone in the next few years, which means that the economic efficiency of investment in solar power is no less than that of investment in hydropower. , Thermal. This milestone would be reached even without state subsidies.

Năm 2016 điện mặt trời đã rẻ hơn điện truyền thống

“Renewables have reached a tipping point,” said Michael Drexler, head of infrastructure and development investment at WEF. It is not only a commercially viable option, but also an extremely attractive investment opportunity with long-term, stable, and inflation-guaranteed returns.”

The figures show the change of throne. In 2016, solar producers added 9.5 gigawatts (GW) to the US grid, making solar the largest source of energy for the first time in a year, according to estimates. by the US Energy Information Administration.

In 2016, the United States added 125 solar panels every minute, double that of last year. The increase in the exploitation of solar power is not only found in energy businesses, but also in homes and many businesses.

However, according to the United Nations, the level of investment in renewable energy globally is still far behind what is needed to combat global warming. Last year, global renewable energy investment was $286 billion, or 25% of the $1 trillion target set by signatories to the Paris climate agreement.

The barriers in this regard are mainly political rather than economic. However, price is still the deciding factor in the ultimate victory of renewable energy. It is expected that in the next decade or two, the price of solar power will drop to only half of the price of electricity produced from coal or gas.

In fact, this milestone has already been reached in several places. In August this year, energy company Solarpack signed a contract to sell electricity in Chile for only 29.1 USD/MWH, which is 58% lower than the selling price of a natural gas power plant.

Source: tuoitre.vn