A new report from the London company Crown Agents concluded in 2018, solar energy will become the turning point of its business, a sharp decline in prices, become a universal technology, and from diesel and gasoline to solar energy to save up to 80% of the cost of developing countries.
Crown Agents said in its new report "solar revolution" that 2018 will be "the global turning point of solar power generation". "Price falls, and technological progress means that developing renewable energy will be feasible, profitable and sustainable."
Fergus Drake, chief executive, said: "this report shows that technology advances make solar energy cheaper and more reliable than ever. Now we need the government, the investors and the private sector to boldly support the solar energy and eliminate the population without electricity.
Crown Agents appealed to investors to turn their attention to solar energy, and explained: "considering the sharp decline of global cost, solar energy is becoming more and more cost effective. In addition, the global electricity free population is still 1 billion 100 million, and the progress of off grid solar technology and related technology can help these areas without electricity grid to provide reliable power, rather than rely on serious fossil fuel technologies, such as diesel generators.
It is reported that the actual cost of off grid solar and battery storage is now less than 20 cents per kilowatt hour, which is at least 60 cents less than that of small diesel and gasoline generators per kilowatt hour. As a result, families in developing countries can save up to 80% of the cost by using solar energy and energy storage.