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Daniel London

Passionate about lowering energy costs for home and business, and ticked-off at the politics of energy and job creation.
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Renewable Energy News And Opinion


Utility-Scale Solar Nears Parity Cost With Fossil Fuels

In the world's three largest solar markets, Utility-Scale Solar is nearly the same cost as traditional fossil fuels, namely oil and coal.

The plummeting cost of solar panels, the most expensive item in a solar system, has brought the cost of solar energy to near wholesale price parity with the fossil fuel sources of grid power in the three largest markets on planet earth — The United States, China and India. According to a recent Deutch Bank report, the U.S. will reach cost parity with fossil fuels by 2017.

In India and China, the prices of solar are reflecting what is happening in the U.S. The Deutsche Bank report indicates that solar prices in India are very close to achieving grid parity, and that solar investments will surpass those in coal within just a few years. In China, the drive for cleaner air is inspiring officials to lift the 100GW solar target for 2020. Deutsche Bank expects China to install around 120GW within that time frame.

Large-Scale Solar Farms Great For The Environment But How About The Home Owner?

Large-scale solar farms supplying our utilities with sun energy rather than some dirty fossil fuel is without question a real plus for cleaner air, but what about the home owner or small business owner?

From a financial standpoint, large-scale solar is likely to do nothing for the small property owner. The reason of course is that these solar farms keep the production of energy in the hands of a few private companies that have a monopoly in the markets in which they operate. If history is any predictor of the future, we can expect these profit driven companies to continue increasing our electric rates for the next 50 years as they have for the past 50 years.

Roof Top Solar... Your Hedge Against Rising Electric Rates

The solar market for homeowners and small business owners is highly diversified today. Not only has the cost of going solar dropped dramatically in the past few years, the choices available to the average property owner are nothing short of amazing.

Leasing: Leasing companies will install a solar system on your roof for literally "$0.00 dollars! You won't get the full financial benefit of what your system is producing, but you will be guaranteed a lower electric bill for the term of your lease.

Solar Loans: Perhaps a solar loan offers you the biggest bang for your bucks. Today, there are banks and solar panel manufacturers that offer a variety of very attractive loans -From short term loans that get you to your 30% Federal Tax Credit, to long term loans to pay off your system over time, all the while maintaining a significantly lower monthly electric bill.

Going Solar is essentially a financial decision for most people. A good place to get unbiased apple-to-apple comparisons on the financial consequences of the various options available to you is EnergySage.com. (opens in a new window) EnergySage will get you three quotes from their database of pre-screened installers so that you can be sure you're hiring highly qualified people at the best price possible. Check it out!

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Source: 1 Inhabitat, July 30, 2015 "Large-scale solar is nearly the same cost as other fuels in world's three biggest markets"

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