Over the last 20 years or so, renewable technology has come on leaps and bounds. However it is still not quite competitive enough to become more economically viable than fossil fuels. The US Department of Energy has estimated that solar panels will need to cost about 50 cents per watt to be able to compete with fossil fuels, it currently averages at about 75 cents per watt. Although other countries, such as Spain have actually already reached the point where solar is cheaper than fossil fuels (although the plummeting oil price may have reversed this situation). For more background I wrote this article explaining a little more about what the future holds for green energy in general. Records for solar panel efficiency are broken on a regular basis by various research institutes and have increased from about 20% in 1989 to over 40% and climbing. The solar panels on NASA satellites for example work at about 45%, however these are terribly expensive and most household solar panels get betw...
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