Forget Fracking: Solar Power Actually Has a Bright Future in the US 0

solar-not-a-nicheThe news: If current trends hold, in just a couple of years, solar power will no longer be a niche market limited to well-off, eco-conscious people: It will become a mainstream method of energy production.

That’s the argument made by a new Deutsche Bank report published this week, which projects that the U.S. will reach solar grid parity in 47 states by 2016, meaning that solar electricity will be just as cheap, or even cheaper, than average electricity-bill prices from conventional energy sources.

The chart below shows how far solar will come out ahead in each state in 2016, assuming a worst-case scenario of lower tax credits. The bars show anticipated cost of solar energy minus average electricity prices. Positive numbers indicate the savings for every kilowatt hour of electricity.

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