Technological Advances in Solar and Batteries Disrupting Global Energy Markets

The significant drop in costs of solar and batteries is due to advances in building more automated factories and producing thinner and more efficient solar panels. This drop in costs has led to increased production capacity surpassing demand, particularly for batteries. As a result, solar and batteries are becoming highly competitive with gas and coal-fired power plants in many markets. The current prices are driving deployment beyond projected levels, causing uncertainty about future demand. The 50% reduction in costs within a year has the potential to greatly impact global energy projections.