Solar power is something either really devoted environmentalists or government-funded groups do, right? Not anymore, at least according to
Michigan Technological University professor Joshua Pearce.
He says, while solar energy creates only about 1 percent of the world's electricity right now, that is about to change -- and in a really affordable way.
Pearce and some colleagues at
Queen's University in Kingston, Ontario, just finished up a study that shows solar energy systems are about to reach what industry folks call the "tipping point," or the point at which solar energy becomes widely available, and as cheap or cheaper than our current electric systems.
The reasons include a recent, massive drop in the price of solar photovoltaic systems. Manufacturers are figuring out ways to make solar more affordable and built with less cost. Pearce says since 2009, solar panels are down 70 percent in price. And, variables previously thought to be barriers to solar adoption, like installation, maintenance and power production concerns, aren't the factors they have been in the past.
"It is still a common misconception that solar PV technology has a short life and is therefore extremely expensive," Pearce says, adding that in fact, the photovoltaic panels are solid-state electronics and have at least a 30-year lifetime. They also are more productive over the long term than previous researchers have suggested.
And, even some major research studies looking at the cost of solar power in recent years have overestimated the costs in terms of dollars per watt of electricity: Recent studies have said that amount is as high as $10, while Pearce says his data from 2011 is less than $1 per watt. It does depend on the geographical region studied, however, which means solar is already economically viable in many parts of the world.
"It's just a matter of time before market economics catches up with it," he says.
Writer: Sam Eggleston
Source: Joshua Pearce, Michigan Technological University
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