Solar All Set To Replace Coal As The Cheapest Power

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With the shortage of fossil fuels in various ends of the world, Solar power is being considered as the prime source of unconventional energy.

According to Bloomberg, countries like the United Arab Emirates and Chile have pioneered in this change by producing electricity at a rate of 3 cents a kilowatt-hour. Oher countries like Saudi Arab, Jordan and Mexico are coming up with plans and auctions to curtail the expenses even further. Because of subsidies scarcity at home, companies like Italy's Enel SpA and Dublin's Mainstream Renewable Power are looking to take advantage and develop new markets abroad.

According to Adnan Amin, an Abu Dhabi-based intergovernmental group - International Renewable Energy Agency 's director general, the reduction in production cost due to solar energy infusion has been huge, almost by 20 percent. The head of solar analysis for New Energy Finance, Jenny Chase said there will be almost a 36 percent drop when the average 1 megawatt-plus ground mounted solar system will cost 73 cents compared to the $ 1.14 now.

In the Asian solar market China, the biggest player will find costs curtailed below coal by 2030, though in some parts of the country, solar plants have been forced to close down due to congestion on the grids. It is also helpful in the global fight against climate changes and global warming.

In UK as well usage of solar panels have been on a steady rise reports Independent. According to the recent surveys solar power has generated much more electricity than that of coal and has caused a dramatic turnaround in UK's electricity supplies. But a fossil fuel free future in energy generation has been hit hard by the sudden and severe changes in Government policies, said James Court, head of policy at Renewable Energy Association.

Independent also reports that the Renewable Energy Association has come out with figures showing almost 35 grid-scale electricity storage projects and at least 1,500 residential ones adding up to a sum of 3.2 GW in UK alone.

Apart from being economical, a clean coal free future through the unconventional power generation sources like solar energy will also help the planet to control global warming to some extent.