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Shining bright: Solar's remarkable cost transformation!
The cost to produce solar power has declined by ~90% since 2000 – from USD 5 per watt-peak (WP) to around USD 0.50 today. This cost improvement is the result of advancements in technology, as well as operational efficiency from scaled-up production. For many years, solar power was reliant on subsidies to be price-competitive with fossil fuels. Thanks to the cost improvements and, at the same time, the rising price of fossil fuels, today solar (together with onshore wind) is one of the cheapest sources of power generation.
Other facts about the energy transition
Fact 01
Fact 02
Unleashing the green hydrogen revolution!
Fact 03
The world’s largest wind turbine is taller than the Eiffel Tower!
Fact 04
The EV market still has a lot of room to grow!
Fact 05
The ‘engine’ of an EV is a sophisticated assembly of many power semiconductors.
Fact 06
Powering the shift: Investment in global clean energy takes the lead!
Fact 07
Heat pumps provide heat in the winter and offer cooling in the summer!
Fact 08
Today solar is one of the cheapest sources of power generation!
Fact 09
Fog poses a challenge to renewable energies by reducing sunlight and wind!
Fact 10
The world's most ambitious solar project has a transmission line of 4,500 km.
Fact 11
Fossil fuel subsidies have risen despite the renewable energy surge!
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