Solar Energy: The Economic Sensible Energy Source
energycioinsights

Solar Energy: The Economic Sensible Energy Source

By Dany Qian, Global Vice President, Jinko Solar [NYSE: JKS]

Dany Qian, Global Vice President, Jinko Solar [NYSE: JKS]

There’s no doubt that solar is the cleanest, the safest, the smartest, the most widely dispersed, accessible to every corner of the earth Now it is also the cheapest. Thanks to the technological advances, solar power cost has dropped dramatically in the past three to five years, solar has become the most economic sensible energy source. 80% of the world has reached grid parity, according to Dutchbank. For example, Jinkosolar quoted 2.42 cents/kwh for a 1.2GW solar power plant in Abu Dhabi, creating the world’s largest solar power project and the world’s lowest electricity price. Then we quoted 2.7 and 2.9 cents/kwh in Mexico and Chile, almost half of local gas fired power price. Even in China, as the biggest winner of Chinese top runner program, the lowest price we quoted is pretty much close to local coal fired electricity price.

Today, almost every country can implement solar without need of much fiscal support. We boldly predicts 10 megatrends which will shape the global solar and its related industry until 2025.

Trend 1: No new coal-fired plants will be profitable to operate after 2025
Trend 2: New building standards integrate rooftop solar mandate by 2025
Trend 3: Solar EV charging stations constructed in most power-hungry regions
Trend 4: Big oil and gas companies add more solar into their portfolio
Trend 5: Solar+IoT+blockchain+big data enable a digitalized smart energy
Trend 6: 80% Global Fortune 500 companies join RE100
Trend 7: Green financing business become banks’ new environmental KPI
Trend 8: Ultra voltage transmission infrastructure and grid capacity facilitate cross region, cross territory electricity trade
Trend 9: Hydrogen energy storage become economic sensible to solve intermittence problem

Trend 10: Urbanization development thanks to more evenly distributed power boost residential market.

What does that mean to businesses? It’s exactly the right time to go solar, too early could be too costly, later will be too late. Businesses have realized how solar arrays enable them to save power costs, and get a good return on investment, create community goodwill, improve their stakeholder perceptions. Be it factories, production facilities, IT data centers, warehouse, industrial parks, etc., with solar electric power, you can easily offset these costs. much like buying property versus renting it, buying solar and generating your own electricity. It makes you a self-sufficient, self consumption and sell the excess electricity generated from your rooftop. Initiatives like these will make all the difference.

Today, Solar energy has become the most economic sensible solution, and every industry on the planet will either go green or go under. By supporting clean and renewable energy, businesses tell their customers that they care about more than just profits. It helps businesses to create a positive brand image for their shareholders, customers, as well as for local community.

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