Underlying Realities

The deep history begins with a succession of US presidents and the quest for energy independence. First was Richard Nixon, who in November 1973 announced Project Independence to wean the US off Middle Eastern oil. Then came Jimmy Carter, who declared the energy transition the “moral equivalent of war” in April 1977 and pumped billions of dollars into renewable energy research, which came to a screeching halt when Ronald Reagan came to power.

This rapid radical reduction in the price of PV solar is a story about Chinese industrial might backed by American capital, fanned by European political sensibilities and made possible largely thanks to the pioneering work of an Australian research team.

A Failed Prediction

In the year 2000 a fatal prediction was made by International Energy Agency: by 2020, the world would have installed a total of 18 gigawatts of photovoltaic solar capacity. Seven years later, the forecast would be proven spectacularly wrong when roughly 18 gigawatts of solar capacity were installed in a single year alone.

Every time you double producing capacity, you reduce the cost of PV solar by 28%."

Today, despite COVID-19 pandemic, more than 260GW of renewable energy capacity was added globally in 2020, beating previous record by almost 50%.
The momentum is on. Now, we need active participation by countries, regions, cities, villages, businesses, investors, civil society and people.

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3 billion people on the planet today are using less electricity than what’s used by an average American refrigerator.