These are exciting times in the world of renewable energy, but it may not be so exciting for the major energy companies claims author of iDisrupted. Technological advancements in the production of solar panels have suggested that solar power will soon be as cheap as coal.
Recently the price of the crystalline silicon modules, which are currently used in solar panels has dropped from $4 per watt in 2007 to $0.50 per watt in 2014. Something sceptics declared never could be done.
The price drop seen is thanks to a new low cost production method, that replaced the previous extremely inefficient production process. But it doesn’t stop there.
A technology company called 1366, based in Massachusetts suggests that its new method of silicon wafer production can further reduce the costs. They claim they are able to cut the overall cost of a crystalline silicon module by a further 20%, rivaling the cost of coal. Experts have predicted that over the next decade the price could drop to as low as $0.25.
John Straw, author of iDisrupted predicts that over the next few years, the new, low price of solar power will radically change the way we consume energy. He claimed; “These technological advances are the final nail in the coffin for traditional energy companies across the globe.”
But one question still remains, who will pay for the grid infrastructure if energy companies no longer continue to make money on power production?
John concluded; “Another final factor to consider is that at the end of April, Elon Musk will introduce a new battery technology which is set to disrupted the way we power our homes. Currently, the future of energy is uncertain but if one thing’s for sure, it’s that traditional energy companies will cease to exist.”
iDisrupted, disruptive technology changing the human race forever, is available in many book shops. For more see here.
iDisrupted is available on Amazon in hard and Kindle copy versions
