Clean Tech Costs Fall, Renewable Power Use Rises
The Department of Energy is reporting some hard figures that help explain the recent boom in the clean tech industry: 1) the cost of solar panels has dropped 75 percent since 2008 2) the cost of LED lights has fallen 85 percent in the same time and 3) electric vehicles now cost 50 percent less than in 2010. Lower costs have been predicted since the beginning of the renewable power industry, as innovations move to mass manufacturing and as R & D experiments result in scalable production and larger sales. Lower costs plus high consumer demand are generating new profits for those pioneering companies who are creating the energy of the future, now.
John Howell, 3BL Media