Solar Leaves Nuclear in the Shade

Solar Power on the Rise: Leaving Nuclear in the Shade

​Nuclear energy hopefuls might be disappointed. A recent special issue by The Economist titled "Dawn of the Solar Age" paints a bright future for solar power, casting a shadow over other energy sources, including nuclear.
Here's a breakdown of why solar is surging:

• ​Exponential Growth: Solar capacity is doubling every three years, outpacing all forecasts. The Economist points out that every prediction by the International Energy Agency (IEA) since 2009 has underestimated solar's growth. Even Greenpeace's optimistic projections fell short of reality.
• Cost Benefits: The cost of solar cells is plummeting, thanks to economies of scale. Unlike previous energy transitions, solar's key ingredient – silicon (from sand) – is abundant and readily available.
• Battery Breakthroughs: While battery storage remains a challenge, its efficiency is improving, and costs are dropping rapidly. Estimates suggest a 99% decrease in the cost of battery storage per kilowatt-hour over the past 30 years.
• China's Embrace: China's massive adoption of solar is a game-changer. In 2023 alone, China installed as much solar capacity as the entire world did in 2022.

This rapid growth has significant implications:

• Renewables Take Centre Stage: The IEA predicts a "step change" in renewable power, with the world potentially installing more renewable capacity in the next five years than in the entire previous century.
• Solar Dominates the Future: Oxford University's "fast transition" scenario suggests solar could become the world's leading energy source by 2060, eclipsing wind, nuclear, and even green hydrogen.
• Price Driven Adoption: The Economist emphasises that falling prices are a key driver of solar's success. As solar becomes cheaper, its use will soar, potentially leading to applications we can't even imagine today.

The impact is already being felt in Australia, where record levels of solar generation are pushing down wholesale electricity prices, particularly in states like South Australia and Tasmania, which heavily rely on renewables.
The message is clear: solar power is no longer a niche technology. It's poised to become the dominant energy source, leaving traditional options like nuclear struggling to keep up. I’m thinking it’s time to change your election strategy there - Mr Dutton.
IMHO - It’s a bit like NBN vs Fixed Wireless

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