American energy resources continue to become more diverse and affordable, making for a dynamic marketplace. One source in particular that has continued to develop and become more accessible is solar energy.
“We’ve seen the cost decline year-over-year in solar since it’s been popular to install. As these costs have gone down and other technologies have either stayed the same or gotten more expensive, it’s just a natural progression towards moving to these lower-cost technologies,” Dr. Joshua Rhodes, Ph.D., Research Associate, Energy Institute and Webber Energy Group at the University of Texas at Austin said.
Dr. Rhodes joined MarketScale to discuss the future of solar energy and what international relationships could mean to its viability going forward. However, certain states in the United States will utilize solar more heavily than others.
“I think one of the things that would really be helpful is if organizations, states, all those could come together to, particularly in areas where they don’t have access, and really demand access at this point,” Dr. Rhodes said. “Because the technology is there to where it really can reduce costs and lock in costs for 20 years going forward.”