Solar power prices have dropped by over 89% in the last 10 years
According to a recent report by Our World in Data, the cost of commercial solar power has dropped by more than 89% in the last 10 years, while the cost of onshore wind has dropped by 70%. This makes both types of renewable energy cheaper and more economical to produce than coal. The primary driver of the cost decline has been scale, as more companies and governments invest in renewable technologies, leading to economies of scale in supply chains and manufacturing processes. This positive feedback loop is pushing governments to make the decision to roll out renewable energy rather than traditional, polluting fossil fuel energy generation.
