Back in 2011, utility-scale solar power cost a little over $4 per watt on average. In February of that year, former Energy Secretary Steven Chu announced the SunShot initiative, which had the goal of reducing the total cost of photovoltaic systems by 75% to the target value of $1 a watt by the year 2020.
There are many good reasons why we should be making the transition from fossil fuel energy sources but the one that is likely to be the most persuasive is strictly economic. It has long been said that the renewable energy future will truly arrive when installing new solar panels is cheaper than a comparable investment in coal, natural gas, or other options.
