Huge turning point for renewable energy: Solar power is becoming the cheapest form of new electricity

One of the most popular talking points when it comes to American politics and economics is the environment. Considering the fact that the earth will eventually run out of natural resources — despite the fact that it is often disputed how long that will take — it is extremely important that renewable energy sources are utilized. One of the arguments against renewable energy has been that it is too expensive. Now, it appears as though that will no longer be the case.

Tom Randall of Bloomberg Technology reports, “This year has seen a remarkable run for solar power. Auctions, where private companies compete for massive contracts to provide electricity, established record after record for cheap solar power. It started with a contract in January to produce electricity for $64 per megawatt-hour in India; then a deal in August pegging $29.10 per megawatt hour in Chile.”

This is excellent news for everyone, whether they are in the solar power business or not. The people of Earth desperately need to have renewable energy sources that we can fall back on whenever the resources that naturally exist dry up and we have to take another route in order to power our various devices. It appears as though solar energy is even more viable than wind energy in the long run, so it is a good thing that it is now at the forefront when it comes to renewable energy.

The fact that solar energy has become the cheapest form of electricity could not be better news. Hopefully, this will inspire the naysayers and people who have refused to accept that renewable energy is the way of the future to rethink their position. If there is one thing that often changes people’s minds, it is definitely the amount of money they can save if they come around to a new way of thinking.

But beyond the money that can be saved by investing in solar energy, it is important that these sources of renewable energy succeed so that they can become commonplace and eventually replace coal and other natural resources that, one day, will cease to exist. We are currently in the midst of a major shift in both economics and scientific discoveries. Both worlds are coinciding and the results could very well benefit the planet and its people. It’s up to us to acknowledge the great opportunity we currently have and capitalize on it to our best abilities.

Sources:

Bloomberg.com

Mashable.com

CleanTechnica.com