| Summary/Abstract |
Solar energy is special: It is vast, ubiquitous, and indefinitely sustainable. The solar resource is much larger than all other available energy resources combined. Solar energy utilizes very common materials; has minimal security and military risks; is available nearly everywhere in vast quantities; and has minimal environmental impact over unlimited time scales. The recent (and continuing) rapid price reduction in photovoltaics and wind energy was not generally foreseen, and is likely to lead to widespread market disruption. New wind and solar photovoltaic (PV) systems are both being deployed around the world in similar scale to new coal, gas, and hydro systems. Renewable energy now constitutes the majority of new generation capacity installed each year. Electricity from wind and PV systems is now cost-competitive with newly built coal, gas, oil, and nuclear generators in many parts of the world. Roof-mounted PV systems successfully compete with conventional gas and electricity for the supply of heat and electricity in cities. Transport and chemical synthesis powered by PV and wind electricity is likely to be competitive in the future.
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