seems like a such a great idea. It's green and there's plenty of it.
But there's one gigantic problem: grid parity.
Grid parity is when a source of power becomes cost competitive with other sources.
And solar is a long way from grid parity.
"Today, you’d need to charge $375 per megawatt hour to justify investment in new solar equipment—nearly four times the average US retail price of electricity," writes Catherine Wood of AllianceBernstein. "That’s why solar energy requires steep subsidies."
of electricity," writes Catherine Wood of AllianceBernstein. "That’s why solar energy requires steep subsidies."
Wood discusses some of the cheaper existing forms of energy:
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