Solar energy is now so cost-effective that, in the sunniest countries, it costs as little as £0.02 to produce one unit of power, making it cheaper than electricity generated from coal, gas or wind, according to a new study from the University of Surrey.
Solar energy is now so cost-effective that, in the sunniest countries, it costs as little as £0.02 to produce one unit of power, making it cheaper than electricity generated from coal, gas or wind, according to a new study from the University of Surrey.
In a study published in Energy and Environment Materials, researchers from Surrey's Advanced Technology Institute (ATI) argue that solar photovoltaic (PV) technology is now the key driver of the world's transition to clean, renewable power.
Professor Ravi Silva, co-author of the study and Director of the ATI at the University of Surrey, said:
"Even here in the UK, a country that sits 50 degrees north of the equator, solar is the cheapest option for large-scale energy generation. Globally, the total amount of solar power installed passed 1.5 terawatts in 2024 - twice as much as in 2020 and enough to power hundreds of millions of homes. Simply put, this technology is no longer a moonshot prospect but a foundational part of the resilient, low-carbon energy future that we all want to bring to reality."
Read More: University of Surrey
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