Technology

The cost of producing solar power is getting cheaper and cheaper


Thanks to the development of material technology, the cost of solar power generation is falling very quickly. Under any scenario, this cost is predicted to decrease by 30-50% over the next 10 years.

This information has been shared by leading scientists in the world at a talk on the future of energy held this morning. This is an important scientific event within the framework of VinFuture science week.

According to Professor Sir Richard Henry Friend (University of Cambridge, UK), there is a large variation in costs between types of electricity generation. Coal, nuclear and wind power used to be the cheapest sources of energy. However, this has changed dramatically in the past 10 years.

The latest statistics of Statista show that wind power is still the cheapest source of energy ($53/Megawatt hour). Right behind is solar power with a cost of only 68USD/Megawatt hour.

The cost of solar power generation has dropped dramatically over the past 10 years.

Notably, the cost of generating solar power is now cheaper than both coal and nuclear power. Meanwhile, only in 2010, solar power was the form of energy with the highest production cost, up to 378 USD/Megawatt hour.

Thus, within just 10 years, the cost of solar power generation has been 5 times cheaper. The rate of decline in the cost of solar power generation is much faster than the most optimistic people thought 10 years ago.

Professor Sir Richard Henry Friend said that the reason for this rapid change is due to the advancement of technology. The advantage of large-scale production from solar farms also helps to reduce risks for investors, thereby reducing costs.

According to Professor Sir Kostya S. Novoselov – University of Manchester (United Kingdom), in the coming time, people need to look for better electricity storage options to improve the penetration level of renewable energy sources. .

“Electricity storage and storage are important technologies for efficient use of energy. Energy storage technologies can completely meet that need, especially with solar power,” shared the 2010 Nobel Prize-winning scientist.

The cost of producing solar power is getting cheaper and cheaper
Professor Antonio Facchetti (Northwestern University).

As a believer in solar power, Professor Antonio Facchetti – Professor of Chemistry at Northwestern University, and Director of Technology at Flexterra said that the cost of solar power production has fallen rapidly and will continue to drop sharply. next time.

Compared to offshore wind energy and hydroelectricity, the rate of production cost reduction is not as fast as solar power. The reason is due to the problem of technology and cost of materials.

Solar power is very special. This is an energy source that can be deployed at many different scales, from farms to even households. In the field of solar power, there are many different options to reduce product costs due to the variety of materials, from organic materials, silicon to new materials.

Regardless of the scenario, the cost of solar power generation is predicted to decrease by 30-50% between now and 2030.

The cost of producing solar power is getting cheaper and cheaper
Professor Nguyen Thuc Quyen – the world’s leading expert in silicon and solar cell technology.

In order to reduce carbon emissions, Professor Nguyen Thuc Quyen – Director of the Center for Polymers and Organic Solids University of California said that many countries such as Denmark, Norway, Sweden, Austria and Switzerland… are gradually transitioning to renewable energy sources.

How to deploy renewable energy sources does not have a general “pattern” or specific models but must depend on the circumstances and conditions of each country. In which, the key to success is diversity in the structure of energy supply.

“In the case of Vietnam, our country has a long coastline, and the central region is sunny and windy, which are advantages to create a source of national capacity,” said Professor Nguyen Thuc Quyen.

The cost of producing solar power is getting cheaper and cheaper
Associate Professor Dr. Pham Hoang Luong (Hanoi University of Science and Technology).

Before the information of international scientists, the representative of the host country of Vietnam, Associate Professor Dr. Pham Hoang Luong (Hanoi University of Science and Technology), said that at present, Vietnam’s national power grid still relies heavily on electricity. to fossil fuel sources such as coal, oil, and gas.

However, the energy transition is currently a global trend and Vietnam is not an exception to that trend. The Vietnamese government has committed to mitigating the impacts of climate change by developing renewable energy sources.

To make the transition more efficient, Vietnam is trying to increase the share of solar energy in the grid. Wind power and solar power will play an increasingly important role in the development of Vietnam.

Trong Dat

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