Mar 22, 2011 9:53 PM GMT
There's a lot to be optimistic about when it comes to energy - and future sources are probably not going to come from the middle east but they could indeed be nuclear - from the sun. What's needed next are great batteries - but those are coming as well.
The numbers are staggering and surprising. In 88 minutes, the sun provides 470 exajoules of energy, as much energy as humanity consumes in a year. In 112 hours – less than five days – it provides 36 zettajoules of energy – as much energy as is contained in all proven reserves of oil, coal, and natural gas on this planet. [...]
The cost of solar, in the average location in the U.S., will cross the current average retail electricity price of 12 cents per kilowatt hour in around 2020, or 9 years from now. In fact, given that retail electricity prices are currently rising by a few percent per year, prices will probably cross earlier, around 2018 for the country as a whole, and as early as 2015 for the sunniest parts of America.
10 years later, in 2030, solar electricity is likely to cost half what coal electricity does today. Solar capacity is being built out at an exponential pace already. When the prices become so much more favorable than those of alternate energy sources, that pace will only accelerate.