Solar energy has undergone a remarkable transformation, from being considered too expensive to becoming the cheapest way to generate electricity.
Its share of global electricity production has risen from 0.15 percent in 2010 to over 4.52 percent in 2022, and it now accounts for half of all power capacity added to the grid. But how did this happen? Matt Ferrell discusses this in his latest video.
“For every dollar invested in fossil fuels, about 1.7 dollars are now going into clean energy.”-Fatih Birol, Executive Director, IEA
There are several factors that have made solar energy cheaper, not only an increase in mass production but also incentives and government support.