Fossil fuels ‘become obsolete’ as solar & battery prices hit ‘tipping point’

Recent research indicates that the cost of solar power has witnessed a remarkable decrease of nearly 90 percent over the past decade. This substantial reduction positions solar energy close to a critical threshold, rendering fossil fuel-generated power economically unviable. The calculations, conducted by the Mercator Research Institute on Global Commons and Climate Change (MCC) in Berlin, highlight an 87 percent decline in the price of electricity generated by solar panels since 2013. This significant cost reduction suggests that the transition to renewable energy sources is more economically favorable than initially anticipated.

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