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« Hong Kong and Shanghai exchanges plan gold and silver alliance | Main | James Turk: Comex Casino Lies & Silver Skyrocketing To New All-Time High »

Global solar dominance in sight as science trumps fossil fuels

Solar power will slowly squeeze the revenues of petro-rentier regimes in Russia, Venezuela and Saudi Arabia. They will have to find a new business model, or fade into decline


Solar power has won the global argument. Photovoltaic energy is already so cheap that it competes with oil, diesel and liquefied natural gas in much of Asia without subsidies.

Roughly 29pc of electricity capacity added in America last year came from solar, rising to 100pc even in Massachusetts and Vermont. "More solar has been installed in the US in the past 18 months than in 30 years," says the US Solar Energy Industries Association (SEIA). California's subsidy pot is drying up but new solar has hardly missed a beat.

The technology is improving so fast - helped by the US military - that it has achieved a virtous circle. Michael Parker and Flora Chang, at Sanford Bernstein, say we entering a new order of "global energy deflation" that must ineluctably erode the viability of oil, gas and the fossil fuel nexus over time. In the 1980s solar development was stopped in its tracks by the slump in oil prices. By now it has surely crossed the threshold irreversibly.

The ratchet effect of energy deflation may be imperceptible at first since solar makes up just 0.17pc of the world's $5 trillion energy market, or 3pc of its electricity. The trend does not preclude cyclical oil booms along the way. Nor does it obviate the need for shale fracking as a stop-gap, for national security reasons or in Britain's case to curb a shocking current account deficit of 5.4pc of GDP.

Thanks to David Morgan who alerted us to this article, to read it in full please click here.

This should be good news for silver, so we will see just how long it takes to catch fire, Bob K


The miners have started 2014 very well indeed on the back of rising gold prices, so the question is; is this the real deal or another head fake? Is the bottom really in? Could there be a final capitulation just ahead of us? Will the summer doldrums take the PMs lower?

If you would like to know which stocks we are buying and selling please join us atStock Trader our premium investment service.

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Reader Comments (3)

"...we entering a new order of "global energy deflation" -

yes, that is what 'we' saw in the first years of nuclear power-
it was said that we don't have a need to pay for electricity, as it will be so cheap.
Well, if you leave the clean-up to next generations and taxpayers...

So 'anyone' in future has to pay for the old waste, incl. fracking,
I guess the pricees won't fall, as 'we' need the money to clean-up (if possible at all).

Obviously the solar power is less dangerous.


April 23, 2014 | Unregistered CommenterRodri


Passive solar is great. As a source of distributed power, it's a joke ... a boondoggle. As a source of baseline power, it fails completely. Without some serious advances in battery technology / the ability to store the power generated from the sun, solar isn't viable as a replacement for liquid fuels or for baseline power needs. Nighttime, clouds and all that.

For the Telegraph to write this as if solar is going to imminently displace fossil fuels and create a "new era of global energy deflation" is ludicrous.

April 24, 2014 | Unregistered Commenterfallingman

Yes indeed, the Greens will keep banging on about it, alas I doubt that they will ever change.

April 27, 2014 | Registered CommenterSilver Prices

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