Disclaimer

Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. But I can't by law give you advice, and I do make mistakes. Remember: the unexpected sometimes happens. Oddly enough, the expected does too, but all too often it takes longer than you thought it would, or on the other hand happens more quickly than you expected. The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.

BTW, clicking on most charts will produce the original-sized, i.e., bigger version.

Thursday, January 2, 2014

Ever cheaper solar power

Solar power has fallen 99% in cost since 1977.  It is now at or very close to grid parity, i.e., plugging in new solar facilities into the grid is now as cheap as or cheaper than building a new power station.  At least between latitudes 45 N and S.  The projected 74 cents per watt turned out in fact to be 64 cents.  This chart should be drawn with a log scale, so you can see the slope properly.  For example, the cost has fallen from $3/watt to 64 cents since 2002, as steep a percentage fall as in its early years.  Also it's not clear whether this is the real (i.e., inflation adjusted) or nominal price.

For the first time, I am optimistic that something will be done about global warming, despite the rabid right (Tony Abbott: "climate change is crap") and the powerful coal and oil lobbies.

Read more here.

{When I get some time I'll try to read off the data from this chart and redraw it with a log scale}



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