• 2 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 5 minutes The Inconvenient Truth Of Electric Cars
  • 8 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 45 mins Here we go folks, the wish of so many: Pres. Trump threatens to lessen US security role in Strait of Hormuz, unveils sanctions
  • 3 hours Climate change & Wildfires: More Wildfires To The Western U.S., Will Affect Tens Of Millions Of People
  • 42 mins The Plastics Problem
  • 6 hours Hard To Believe: UAE Will Work To Defuse Middle East Tension
  • 8 hours Oil Demand Needs to Halve: Equinor
  • 11 mins Wonders of Shale - Gas, bringing investments and jobs to the US
  • 2 hours Looks like Trump is putting together a "Real" Coalition to protect Persian shipping lanes. Makes perfect sense. NO Fake "Coalition's of the Willing" UPDATE REUTERS Pompeo "Sentinel Program"
  • 4 hours Cherry Picking Climate Data
  • 11 mins Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 17 hours Here We Go: New York Lawmakers Pass Aggressive Law To Fight Climate Change
  • 14 hours Solar Panels at 26 cents per watt
  • 8 hours Green vs. Coal: Bavaria Seeks Fast-Track German Coal Exit in Snub to Merkel Plan
  • 2 hours Coal Boom in Asia is Real and a Long Trend
Alt Text

Is Solar Growth Really Lagging?

California is looking to pass…

Alt Text

Will U.S. Solar Survive The Trade War?

It’s been almost a full…

Alt Text

India Surges Ahead In Global Solar Race

India is soaring past the…

James Burgess

James Burgess

James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…

More Info

Premium Content

Is a Solar Energy Revolution Just Around the Corner?

India’s “Solar Mission” to install 20,000MW of solar power by 2022 has recently had a boost following the news that electricity from solar power is now cheaper than that produced by diesel generators. Making them a cost effective alternative to many people in developing countries.

According to figures by market analysts Bloomberg, the price of solar panels fell by nearly 50% in 2011 alone, and they are currently just one quarter of the price they were in 2008.

According to the International Energy Agency’s 2011 World Energy Outlook report, a quarter of India’s population do not have electricity, and those that do experience frequent blackouts due to a supply deficit. Many homes and factories install diesel generators, but they are expensive to run, produce carbon dioxide, and have been linked to health problems such as respiratory and heart disease, and cancer.

Amit Kumar, the director of energy-environment technology development at the Energy and Resources Institute in New Delhi, suggested that households may be put off from buying solar panels due to the high initial cost because they are more expensive than diesel generators. However he assures that they will earn that difference back after seven years and that the solar panel will continue producing cheap electricity for 25 years.

Solar panels are still very inefficient, converting just 15 – 18 percent of the energy into electricity, but due to economies of scale the production costs have fallen drastically. Jenny Chase, head of solar analysis at BNEF said that solar power is now cheaper than diesel “anywhere as sunny as Spain”, opening up the possibilities of cheap electricity to vast areas of Latin America, Africa and Asia.

Solar Power still remains twice as expensive as electricity produced in coal power stations, but if the current trend continues this situation may soon change. The in-house analysts at Suntech, the world’s largest producer of silicon panels, have stated that by as soon as 2015 solar electricity will be as cheap as grid electricity in half of all countries.

By. James Burgess of Oilprice.com




Download The Free Oilprice App Today

Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News