Sam Evans, the Electric Viking on YouTube, has noted an interesting development amidst a moderate global economic recession, which is actually quite good news. Due to the intense price competition among Chinese manufacturers faced with excess capacity and weak demand, the price of solar panels has dropped about 30% in the last year. This caps a decade of declines whereby electric panels are approximately 90% cheaper than a decade ago.
At these prices, the commercial and residential production of solar electric power will prove cheaper than any fossil fuel production. And for the future of the climate, this is very good news indeed.
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