Goldman Sachs Soon Solar Energy Is Cheaper Than Fossil Fuels

* Goldman Sachs recently released a report that says that solar energy is fast approaching grid parity. Grid parity is when electricity from solar power becomes the same price or cheaper than electricity produced by fossil fuels. * "Our Clean Energy team believes the number of households hitting grid parity will continue to grow as the cost of the systems comes down", according to the company. * The company sees battery storage coupled with solar panels as the future: "SolarCity has seen a 40% decline in the per watt cost of PV panels since the second quarter of 2013, driven by improved scale which is expected to continue". * The same goes for the costs of batteries, says Goldman Sachs: "This has been true for Tesla's battery costs as well, which have declined from of 500/KWh in 2008 to 250/KWh for the Model S to potentially 125/KWh at the gigafactory". Read more about Tesla's giga-battery-factory, here. * According to the company, traditional utilites should worry about their future. "The reduction of solar panel and battery costs could also work together to make grid independence a reality for many customers one day." * Goldman Sachs said that the renewable energy sector is one of the most compelling and attractive markets. They are not the first and not the only one. Read more about predictions about the solar and energy storage markets, here: Market analysts agree: The global market for energy storage will grow drastically Solar outlook 2014: Analysts agree, it will be a record-breaking year for solar-PV Source: Inhabitat The post Goldman Sachs: "Soon, solar energy is cheaper than fossil fuels" appeared first on Greenzone.