There’s some buzz in the blogosphere about the rollout a new solar panel manufacturing process by a company called Nanosolar that promises to dramatically reduce the cost of solar energy. (Here’s some rather breathless coverage from Popular Science.)
Matt Yglesias expresses skepticism about some of the more optimistic claims, but then writes:
…the point remains that renewable energy is not some outlandishly expensive hypothetical alternative. … And if the rich world decisively commits itself to renewable electricity, the number of firms trying to find cost-effective ways to deliver this sort of electricity will skyrocket…
Presumably, he’s talking of the “rich world” “committing” through government action and regulation. But if such strides are being made in cost-effectiveness, won’t government action be less necessary to promote the uptake of renewable energy? It is worth noting that Nanosolar received a $20M grant from the Dept. of Energy, but over $110M in private venture capital.
Jonathan Adler at Volokhs seems to have it right:
… if such power sources are cost-competitive, the transition will occur without need for government subsidies and mandates.
Anyway, perhaps we should heed the wisdom of Homer Simpson here: “And Lord, we are especially thankful for nuclear power, the cleanest, safest energy source there is. Except for solar, which is just a pipe dream.“
Share This