Recent solar and wind price cuts could speed up the adoption rate and bring the technologies closer to the masses within the next decade, Reuters reports. Falling prices in both sectors are the result of increased production in China and subsequent over supply. Natural gas and fossil fuels still lead the charge in the U.S., but prices of turbines have dropped 20 percent and solar panels by 50 percent since 2007, making them ever more attractive alternatives.
"We see it as an extremely potent and powerful trend for the coming decade," said Rupesh Madlani, renewables an clean technology analyst at Barclays Capital.
What's more, the price of solar panels is expected to drop another 10-25 percent this year alone, and according to Madlani, could drop in half (again) within the next two to three years.
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