Is solar energy getting cheaper to use?

Supportive policies and advancing technology have been successfully pushing the price of solar energy lower and lower. Solar technology was originally used as the electricity supply for a satellite in 1958 at an extremely high price. However, this safe and clean renewable energy is now installed in various everyday places, including airports, warehouses and home rooftops.

Essentially, increased production of solar modules helped prices to fall. Greater competition in the market also followed as the demand has been rising. While the price of electricity from coal only fell from $111/MWh to $109/MWh between 2009 and 2019, solar prices saw a decline of 89% (from $359/MWh to $40/MWh) over the same period. Furthermore, the International Energy Agency expects that the expansion of solar power will be even more rapid if more governments and investors gear up their support.