According to Bloomberg New Energy Finance, solar is now the lowest-cost source of electricity in many parts of the world. Over the next decade, however, solar energy is likely to become the lowest-cost option almost everywhere.
Costs up and down the solar supply chain have dropped over the last few years, resulting in a 62 percent decline in solar prices since 2009. These cost reductions help cut risk premiums on bank loans and vaulted manufacturing capacity to record levels. By 2025, solar may be cheaper than using coal on average globally.