The chart above is striking --90% since '09-- and we are seeing the effects of this everyday in the commercial solar space where demand continues to grow as businesses recognise the unprecedented viability of solar. Winds coming along too but not nearly as fast as solar. Here's an excerpt from a story by Peter Hannam:
Australia has unmatched renewable energy resources but will meet its climate targets only by intervening to accelerate the retirement of coal-fired power plants, according to Michael Liebreich, founder of global advisory service, Bloomberg New Energy Finance.
Mr Liebreich said the Turnbull government should avoid setting renewable energy targets and instead focus on devising market-based methods to phase out coal . . .
Mr Liebreich told a Sydney audience advances in renewable energy technologies were rapid, with solar photovoltaic prices falling by almost a quarter for each doubling of production. For wind, costs sank 19 per cent with each doubling of turbine output. (See chart below.)
Breakthroughs come regularly, with the University of NSW last week revealing it had achieved record efficiency rates for its perovskite solar cells, with prospects of more to come.