We do love bringing you good news whenever possible, and although not a surprise to some, here’s a recent Bloomberg New Energy Finance graph that’s pretty great news indeed. As you can see, it shows that solar module prices have been falling since the 1970s, and have fallen a 80% since 2008, including 20% in 2012 alone.
What’s more, the trend is that prices will continue down over coming years. Solar power is expected to eventually compare favourably with the power derived from fossil fuels, if not become substantially cheaper. That’s got to be a great thing for greatly increased adoption by homeowners and businesses.
An additional piece of good renewable energy news from the Bloomberg presentation by Michael Liebreich, is that the prices of wind turbines have also fallen 29% since 2008. Wind power prices have been falling for decades, with the biggest drops occurring back in the 1990s.
As we’ve mentioned many times now since The9Billion was founded in early 2011, the future of renewable energy is bright, especially for solar power. This is the the kind of data that proves that it’s well on track to being a big part of our future.