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Solar Energy Rising in Brazil and Worldwide – University of Oxford Reports Drop in Prices
It is known that solar energy has enormous potential, and it is considered inexhaustible from a human perspective. Recently, the University of Oxford reported a drop in market prices. It is a renewable, alternative, and sustainable energy source. It does not generate waste, thus being considered clean, without harming the environment, and makes it cheaper.
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The price of solar energy over the past 10 years has dropped by 89%, according to the University of Oxford. The prices of renewable energy have been declining rapidly, as shown by Our World in Data, which is an online scientific publication in partnership with the University of Oxford.
A report from last year by the nonprofit organization Rocky Mountain Institute had already indicated that it was much cheaper and more feasible to build and combine renewable energies like solar and wind than to construct new plants based on natural gas. And now, such a decline is much more noticeable.
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Brazilian scientists are simultaneously advancing two research projects on clean hydrogen and driving solutions that could transform the energy matrix, enhance industrial competitiveness, and accelerate large-scale emission reduction targets.
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Advancement in renewable energy: A R$ 150 million project launched by Petrobras and Finep aims to create state-of-the-art electrolyzers for green hydrogen, strengthening national research and preparing Brazil to compete in a billion-dollar energy market.
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Illiterate or semi-literate grandmothers were trained to repair solar systems, open rural workshops, and light up homes that still depended on kerosene.
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The world has bet on green hydrogen as the fuel of the future, but now faces the side effect: producing 1 kilogram requires about 9 liters of ultrapure water, and the largest projects on the planet are precisely in the driest regions of the Earth, where water is already scarce for people.
According to Carbon Tracker, it is Cheaper to Invest in Renewable Energy (Solar Energy) Than in Coal
In a report from Carbon Tracker, it was also emphasized that in each of the world’s energy markets, investing in renewable energies, such as solar energy, is cheaper than investing in coal.
According to Carbon, in the past 10 years, it was observed that the price of solar power generation has dropped by about 89%, and wind energy by around 70%, thus indicating that clean energy has already surpassed its critical point.
In Comparison Between 2009 and 2019, Our World in Data Together with the University of Oxford Shows a Drop of Over US$ 350 per Megawatt
In a comparison conducted by Our World in Data, in partnership with the University of Oxford, regarding the price of electricity from new plants between 2009 and 2019, a graph from Our World in Data shows how the price of photovoltaic solar energy plummeted from US$ 359 per megawatt-hour to US$ 40, the cheapest of any of the energy options ever studied.
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