Report Reveals That Solar Energy is Now Cheaper Than Fossil Fuels

In UWA Online’s Continuing Education program, you can take classes to set yourself up for a successful career in green and renewable energy careers. If you’ve been considering a career in green and renewable energy, take note that a report published this month showed that in many parts of the world, solar energy is now cheaper than fossil fuels for the first time ever.

According to an article published on EcoWatch.com, a handbook released this month by the World Economic Forum shows the WEF’s observations on how the price of renewable technologies, specifically solar has gone down by record numbers.

The report shows that while the average LCOE (levelized cost of electricity) for coal and natural gas is approximately $100 megawatts per hour, the price for solar electricity has declined from $600 a decade ago to $300 five years later, and now close to or below $100. By comparison, the LCOE for wind is around $50.

The WEF predicts that two-thirds of the world will reach grid parity (when solar energy can generate power at an LCOE less than or equal to the purchasing power from the electricity grid) in the next few years. By 2020, it is predicted that this will be the case throughout the world.

What does this mean for those seeking green or renewable energy careers? Now that solar energy is becoming increasingly commercially viable, job opportunities in this field are flourishing. Read our previous blog “Going Green in Your Career: A Look at Renewable Energy Jobs,” to see what types of jobs are available in the renewable energy industry!

Whether you are seeking a career in green and renewable energy, or if you are simply curious about the subject, UWA Online’s Continuing Education program is offering online courses suited to your interests. Visit https://uwa.augusoft.net/ to learn about your options!

To read the entire article from EcoWatch.com, click here.

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