Solar Power Leaps Key Cost Barrier As Coal And Gas Sidelined (Shocker!)

A new analysis from the research firm Ember finds that solar power's upfront cost has now dropped below coal and natural gas in many developing countries, a shift from years past when solar's high initial price tag held back adoption. Financing tools like power purchase agreements, loans, and leases have helped bring costs down for both large solar farms and home rooftop systems. The report notes solar manufacturing in the US is growing, which could eventually mean more domestic products and competition in the panel market here.

Closer to home, an investment firm called Aligned Climate Capital has launched a $500 million fund aimed at building out "distributed" solar and storage projects — meaning smaller, local systems rather than giant power plants. This includes community solar, where residents can subscribe to a shared solar project and get credits on their electric bill, even if they can't put panels on their own roof. The fund has backing from the Bush Foundation, a Minnesota-based philanthropy unrelated to the political family of the same name.

Two states have also made moves that could matter if you're weighing your own options. New Jersey's governor is set to sign a law making "balcony solar" — small, plug-in panel setups — easier for renters and homeowners in HOA communities to install. In Virginia, the governor partnered with the nonprofit Solar United Neighbors on a bulk-buying program meant to lower the cost of rooftop solar for individual households. Programs like these vary by state, so it's worth checking what's available where you live.