Solar power, the alternative energy source long since dismissed by critics and the public-at-large as improbable futurism, has recently achieved grid parity in Hawaii and in nine other US states according to the Deutsche Bank.
Other countries like Germany and China are also aggressively backing solar power initiatives and have surged past the US in solar power generation.
For those unfamiliar with the term ‘grid parity’, it’s when alternative energy generates electricity less than or equal to the cost of purchasing power from the electricity grid. It’s a big deal, and solar power has become an overnight sensation.
Why has solar power become viable now? The answer is Photovoltaics (PV), another term you’ll no doubt become familiar with in upcoming years.
Photovoltaics significantly outperforms traditional solar concentration, and like plasma TVs and computer CPUs before, the production costs are dropping dramatically.
The following Slideshare: “A Review of Solar PV Benefit and Cost Studies” explains the complicated factors involved in calculating the value of solar to an electric utility.
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