‘Insanely cheap energy’: solar power continues to shock the world
Relevant quote: &quot;Every time you double producing capacity, you reduce the cost of PV solar by 28%.&quot;<p>Current worldwide PV manufacturing capacity is roughly 165 GW [1] [2], with a utility scale price close to $0.01&#x2F;kWh [3]. Manufacturing capacity is doubling every ~4 years. Global PV capacity in service is ~600 GW.<p>IEA Average global annual capacity additions in main and accelerated cases, 2023-2025: <a href="https:&#x2F;&#x2F;www.iea.org&#x2F;data-and-statistics&#x2F;charts&#x2F;average-global-annual-capacity-additions-in-main-and-accelerated-cases-2023-2025" rel="nofollow">https:&#x2F;&#x2F;www.iea.org&#x2F;data-and-statistics&#x2F;charts&#x2F;average-globa...</a> [4]<p>[1] <a href="https:&#x2F;&#x2F;www.statista.com&#x2F;statistics&#x2F;668764&#x2F;annual-solar-module-manufacturing-globally&#x2F;" rel="nofollow">https:&#x2F;&#x2F;www.statista.com&#x2F;statistics&#x2F;668764&#x2F;annual-solar-modu...</a><p>[2] <a href="https:&#x2F;&#x2F;www.iea.org&#x2F;data-and-statistics&#x2F;charts&#x2F;solar-pv-module-manufacturing-and-demand-2014-2020" rel="nofollow">https:&#x2F;&#x2F;www.iea.org&#x2F;data-and-statistics&#x2F;charts&#x2F;solar-pv-modu...</a><p>[3] <a href="https:&#x2F;&#x2F;pv-magazine-usa.com&#x2F;2021&#x2F;04&#x2F;12&#x2F;saudi-arabias-second-pv-tender-draws-world-record-low-bid-of-0-0104-kwh&#x2F;" rel="nofollow">https:&#x2F;&#x2F;pv-magazine-usa.com&#x2F;2021&#x2F;04&#x2F;12&#x2F;saudi-arabias-second-...</a><p>[4] <a href="https:&#x2F;&#x2F;www.iea.org&#x2F;reports&#x2F;renewables-2020&#x2F;solar-pv" rel="nofollow">https:&#x2F;&#x2F;www.iea.org&#x2F;reports&#x2F;renewables-2020&#x2F;solar-pv</a><p>EDIT: Thanks to &#x2F;u&#x2F;gok for the correction on energy units.