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ClimateProgress <br />Solar and Wind Prices Plummet <br />In a section headlined, "Solar and Wind Prices Plummet," BNEF says "The chart below is arguably the most <br />important chart in energy markets. It describes a pattern so consistent, and so powerful, that industries set their <br />clocks by it." <br />The 0of' Solar <br />Every time the world's sdar �powier doubIes, the cost of panelsfafls 26iO�,o <br />100 -.00MOMINIffelinft—, <br />1976 <br />1 <br />1108 a <br />2000 2000' <br />w <br />0.1 <br />1 10 1100, 1,0010 10,000 1001,000 1,000 „000 <br />"Wind -power prices are also falling fast — 19 percent for every doubling,” explains BNEF. They project that <br />over the next quarter- century, dropping prices and improving performance (see below) will drive the world to a <br />stunning $3.4 trillion investment in solar, and $3.1 trillion for wind — and both of those exceed the cumulative <br />investment of $2.1 trillion projected for all fossil fuels through 2040. BNEF expects an investment in new <br />hydropower of some $900 billion through 2040, and an investment of about $1.1 trillion in new nuclear. <br />The result of these investments and the continued learning by solar and wind means make "these two <br />technologies the cheapest ways of producing electricity in many countries during the 2020s and in most of the <br />world in the 2030s." <br />2 <br />http: / /thi n kprogress.org /cl imate/ 2016 /06/13/ 3787700 /coal- gas - plants- cheap - renewables/ <br />