Plummeting prices for solar power and storage make global climate transition cheaper than expected

In just the past ten years, the cost of electricity from solar has fallen by 87 percent, and the cost of battery storage by 85 percent. Wind power, heat pumps and other fossil-free technologies are also experiencing a sharp drop in prices. A study now compares the corresponding findings from innovation reports with the standard model-based scenarios on climate transition. It shows that, although the fight against global heating remains an enormous political challenge, new, cheaper pathways are opening up. The study was led by the Berlin-based climate research institute MCC (Mercator Research Institute on Global Commons and Climate Change) and published in the renowned journal Energy Research & Social Science.

https://www.mcc-berlin.net/en/news/information/information-detail/article/plummeting-prices-for-solar-power-and-storage-make-global-climate-transition-cheaper-than-expected.html

 

 

Here's a direct link to the study:

https://www.sciencedirect.com/science/article/pii/S2214629623003365?dgcid=author