Solar energy reaches historically low costs – Justine Calma

Solar Farm In SalentoPhoto by Manuel Romano/NurPhoto via Getty Images

In some parts of the world, solar power is now the cheapest source of electricity in history, thanks to policies encouraging renewable energy growth. That’s according to a new report released today by the International Energy Agency (IEA).

Sunshine is free, but the technology needed to turn it into usable electricity can be expensive. To encourage more people and companies to switch to solar power, countries can adjust their policies to make purchasing that equipment more affordable. Today, more than 130 countries have policies that lower the cost of building new solar installations. This is the first year that the IEA took such policies into consideration when calculating the cost of solar energy in its annual World Energy Outlook…

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