This technological shift is being backed by investors like Warren Buffet, Google, Deutsche Bank, and Citibank, all of whom are embracing solar’s natural ascendancy.
Solar affordability has been driven by a 50% cost reduction since 2010. Jurisdictions from Beijing to Berlin are now embracing the solar Smart Grid evolution, with primary adopters including Germany, China, Italy, Canada, the USA, and the UAE. Similarly, stalwart energy producers like Royal Dutch Shell, Total SA, BP, and NRG are embracing solar as the fuel of the future.
In addition to the cost reductions in solar power, this new surge of investment is being driven by a global realization that action on climate change can no longer wait. More and more jurisdictions around the world are either subsidizing renewable energy or taxing carbon emissions. As the 2013 Intergovernmental Panel on Climate Change reported:
“It is extremely likely that more than half of the observed increase in global average surface temperature from 1951 to 2010 was caused by the anthropogenic increase in greenhouse gas concentrations and other anthropogenic forcings together. The best estimate of the human-induced contribution to warming is similar to the observed warming over this period.”
Smart money is betting on solar power as a solid investment as governmental policy and corporate regulation begin to track this reality.