Business Insider's Gregor MacDonald was amazed at solar power's break out in the last energy report from BP, and he wonders if more traditional power sources that are hobbled by cost, regulation and uncertainty will lose to solar power.
MacDonald also points out that the power grid of the future will work in solar's favour as countries move away from oil and start relying on coal and natural gas to power the electricity grid.
Moreover, as the world is no longer able to fund economic growth with oil, owing to flat global supply, the industrial economy continues to migrate towards the electrical grid. While this certainly means that coal fired power generation will dominate for the next decade, it’s also the case that a more robust powergrid will become the receptacle for solar power.
It is not a mistake that global solar capacity has begun a parabolic move. While many will conclude that demand is the main driver of this growth—and that is not incorrect—it is actually the increasing difficulty and complexity of other power generation construction which is now casting off advantages, to solar power. Do not underestimate the speed of solar.