No wonder the fossil fuel companies are fighting so hard to block renewable energy development. It’s only a matter of time before consumers realize how cheap renewables compared to oil, gas and coal. When that happens, the fossils can kiss their ill-gained profits goodbye.
Not only is the sheer amount of solar power generation increasing at blinding speed but the cost is plummeting in unrigged markets, as well. Mexico just accepted bids of 1.77 cents per kilowatt hour. That is, if you had 10 light bulbs with a brightness of 100 watts each, and you burned them for one hour using electricity generated by the solar farm to be built in Mexico by 2020, that would cost you 1.7 cents. In most states in the US it would now cost you 8 cents to 22 cents, if the electricity were generated by coal and natural gas.