Solar power prices have been dropping faster than people expected, even faster than experts expected, and even faster than bullish experts expected.
I wrote about this general point a couple of years ago for an article for The Economist Group. The question I was supposed to explore was whether we needed solar technology breakthroughs in order for solar to take over the electricity generation market.
Possessed with an insight that recognized the true power of solar as a future tenet of energy, Thierry Lepercq founded Solairedirect in 2006. Armed with the knowledge that the cost of photovoltaic technology would decrease over time, he pushed the solar agenda to grow Solairedirect into a solar power company that operates across four continents.
Engie had been on our radar before, but never to a large degree, even though it is a giant energy company — one of the largest in the world. Then, in January, Thierry Lepercq — Executive Vice President of Engie in charge of Research, Technology and Innovation — made some eye-popping futuristic claims which grabbed a lot of attention. A short time later, I was in Abu Dhabi at a gigantic IRENA (International Renewable Energy Agency) meeting of ministers from many countries around the world. To kick off a big ministerial, there was a CNN-moderated panel discussion with top people from IRENA, Statoil, EDF, IEA (the International Energy Agency), and Engie. Thierry was at the table.
“The promise of quasi-infinite and free energy is here,” says Thierry Lepercq, head of research, technology and innovation for Engie SA. He thinks the cost of solar power will drop below $10 a megawatt-hour ($0.01 per kWh) before 2025 in the world’s sunniest places.
