Something we wondered if we would ever see occur in our lifetime may be happening faster than we thought possible. According to the International Energy Association (IEA), solar energy could become the world’s main power source by the year 2050. While this may sound unrealistic to some, there are many indications that it is not only possible, but that the wheels (or in this case, the panels) are already in motion.

Solar Dominates Coal in the UK

Just recently in the United Kingdom, solar power usage exceeded power produced by coal power stations for an entire 24-hour period. While it has happened before that solar power has occasionally generated more power than coal to UK homes and businesses for a few hours, this was the first time that solar power beat coal for an entire day.

According to Carbon Brief, “On Saturday, April 9th, solar generated 29 gigawatt hours (GWh) of electricity, 4% of the total used that day and more than the 21 GWh output from coal (3% of demand).” The following Sunday, April 10th, followed a similar pattern with solar overpowering coal usage once again. This significant occurrence supports the idea that solar power is on its way to becoming the world’s primary source of power generation.

The Decline of Coal

While analysts say coal consumption has been declining for some time, 2015 marked the largest drop ever recorded. According to a study on the decline of coal by Greenpeace, “between the months of January and September 2015 coal use around the world was down by at least 2.3% and by as much as 4.6% versus the same period last year.”

In the United States, “200 power stations, accounting for a third of the country’s coal capacity, have closed or are closing.” Experts attribute the decrease in coal energy consumption to a variety of factors, including the low cost of natural gas and falling gas prices. Meanwhile solar power adoption has been soaring, with no signs of slowing down.

Solar Power Affordability

In years past, the upfront costs associated with solar power have undermined solar’s growth at times. However, new leasing price models have made it possible to implement solar power energy without having to invest anything upfront.

Meanwhile, emerging collaborative efforts like community solar have made it easier for more people to benefit from solar, which has opened up the market considerably. As the cost of solar energy becomes more affordable to a wider range of consumers, and government policies continue to support its use as a renewable source of energy, solar power adoption looks set to continue to rise.

The Future of Solar Power

Additional examples of how solar power growth will continue to arise include the $750 million factory that is set to be built in Buffalo, NY. The solar plant promises to deliver 10,000 solar panels per day, and will undoubtedly be the largest in North America, and among the largest in the world.

The IEA states that, “The takeoff is around 2025 to 2030. By then the cost of solar will be $100 per megawatt/hour and will compete with fuels facing carbon prices of $50 a ton.” The agency speculates that there will be 200 gigawatts of solar power added each year worldwide beginning in 2025 and beyond, which is more than all of the solar power that exists today.

Whether the IEA’s predictions are 100% accurate or not, it’s clear that solar power may be a top energy source contender a lot sooner than we once thought.

Interested in finding out more about how switching to solar can help you drive your electric bill down to zero? Contact us today for a free quote.