China and India are way ahead of Western economies with solar generation
This article in the FT sets out the startling pace at which new solar deployment is replacing conventional energy generation in China and India.
This should be a concern for developed, Western economies which have been slower to adapt. Solar energy will give Chinese and India industry a massive commercial advantage over competitors long after their labour costs have risen. Solar electricity at USD4c a kWh today will still be USD4c/kWh in twenty years time. We can only guess what European business will be paying for grid energy by then but given that many firms have seen a 30%+ increase over the last three years, we can reasonably expect electricity from the grid to cost 4-5 times what it does now.
The other massive economic benefit for these fast growing economies is that they need to import less oil, gas and coal to generate electricity, commodities which both India and China will otherwise have to import.
You can read the FT report here...
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