This tidbit from the “Exponential View” confirms a trend that has been noticed for quite some time — the price of renewable energy keeps on falling
Wind energy prices are at historical lows in the US. The national average price of wind PPAs has dropped to below 2¢/kWh. The dropping price of solar energy is putting pressure on the wind power industry, however. That seems like the kind of competition we can all get behind.
You might recall the prediction of Tony Seba –— as the prices of electrical generation continues to fall and battery technology continues to improve, we will reach a tipping point far earlier than expected where using fossil fuel powered tech can no longer be justified on economic terms.
Seba thinks this will happen within a few years. The main challenge is about the “feast or famine” nature of renewable energy production. For example, the sun does not shine at night when we need lots of energy. There is a lot of thought going into meeting this challenge, and creating better and cheaper batteries is just one of them.
Stay tuned on this one!