Here Comes Solar Energy, Will Become Less Expensive than Coal – Powerful Op-Ed by Paul Krugman

So here’s another entry for my list of stories about the plummeting costs of solar power. In his latest op-ed, Paul Krugman makes a powerful case for solar power and blasts the fossil fuel lobby and their compliant politicians.

We are, or at least we should be, on the cusp of an energy transformation, driven by the rapidly falling cost of solar power. That’s right, solar power.

If that surprises you, if you still think of solar power as some kind of hippie fantasy, blame our fossilized political system, in which fossil fuel producers have both powerful political allies and a powerful propaganda machine that denigrates alternatives.

Krugman then turns to hydraulic fracturing, also known as fracking, which is a technology to inject high-pressure fluid into rocks deep underground to fracture them and release the natural gas contained therein. Fracking causes huge environmental damage including contamination of drinking water but it has mostly gotten a free pass so far in the name of energy security.

So it’s worth pointing out that special treatment for fracking makes a mockery of free-market principles. Pro-fracking politicians claim to be against subsidies, yet letting an industry impose costs without paying compensation is in effect a huge subsidy. They say they oppose having the government “pick winners,” yet they demand special treatment for this industry precisely because they claim it will be a winner.

Turning back to solar,

progress in solar panels has been so dramatic and sustained that, as a blog post at Scientific American put it, “there’s now frequent talk of a ‘Moore’s law’ in solar energy,” with prices adjusted for inflation falling around 7 percent a year.

This has already led to rapid growth in solar installations, but even more change may be just around the corner. If the downward trend continues — and if anything it seems to be accelerating — we’re just a few years from the point at which electricity from solar panels becomes cheaper than electricity generated by burning coal.

And if we priced coal-fired power right, taking into account the huge health and other costs it imposes, it’s likely that we would already have passed that tipping point.

But will our political system delay the energy transformation now within reach?

Let’s face it: a large part of our political class, including essentially the entire G.O.P., is deeply invested in an energy sector dominated by fossil fuels, and actively hostile to alternatives. This political class will do everything it can to ensure subsidies for the extraction and use of fossil fuels, directly with taxpayers’ money and indirectly by letting the industry off the hook for environmental costs, while ridiculing technologies like solar.

So what you need to know is that nothing you hear from these people is true. Fracking is not a dream come true; solar is now cost-effective. Here comes the sun, if we’re willing to let it in.

Thankfully, in Germany the Greens and Social Democrats were in power long enough to establish and lock in the renewables feed-in tariff in spite of the resistance of our very own fossilised power producers and politicians. If we can keep it in place just a few more years, renewables will be unstoppable.

Related posts:

Solar Power Prices Keep Falling. And Falling. And Falling

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