What's Your Problem? How the Sun Won (The Solar Era, Part 1)
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Nov 21, 2024 Jenny Chase, a leading solar analyst at Bloomberg NEF, discusses the staggering 97% drop in solar panel prices over the last two decades. She highlights how Germany's 2004 feed-in tariff propelled solar's growth and the rise of Chinese manufacturing. The conversation explores the transformative potential of free solar energy during peak sunlight and the economic implications for consumer behavior. Chase also addresses the challenges of grid infrastructure and regulatory hurdles while emphasizing solar's surprising growth in Texas and ambitious projects like energy transmission from Australia to Singapore.
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Solar Power's Dramatic Price Drop
- Solar panel prices dropped by over 97% in 20 years, leading to a surge in solar energy adoption.
- The amount of solar power installed in two days now exceeds the total global amount in 2004.
Germany's Feed-In Tariff
- Germany's 2004 feed-in tariff, guaranteeing payments for solar energy, sparked the solar revolution.
- This policy made solar farms profitable and attracted investors, leading to the first commercial solar developments.
Silicon Price Volatility
- The increased demand for solar panels led to a silicon shortage, driving its price up nearly 20 times.
- This price spike encouraged more polysilicon production, eventually leading to lower silicon and panel costs.
