A recent study from the University of Surrey reveals that the cost of solar power has reached a record low: in sun-rich countries, the cost per kilowatt-hour can be as low as £0.02, making it more economical than coal, natural gas, and even wind power. The related research findings were published in the latest issue of the journal “Energy & Environmental Materials.”
The research team stated that solar photovoltaic technology is becoming the core driver of the global transition to clean energy. Even in countries like the UK, located at 50 degrees north latitude, solar energy has become the most economical option for large-scale power generation. Data shows that in 2024, global newly installed solar capacity exceeded 1.5 terawatts, doubling since 2020, which is sufficient to meet the electricity demands of hundreds of millions of households, making it a cornerstone for building a resilient, low-carbon energy system.
Since 2010, the price of lithium-ion batteries has dropped significantly by 89%, making the cost competitiveness of “solar + storage” systems comparable to that of natural gas power generation. These hybrid systems, which combine solar panels with batteries, have now become a standard configuration in many regions. They can store surplus electricity and release it on demand, transforming solar energy into a stable and controllable power source, effectively aiding grid balance.
Integrating the growing amount of solar power into existing grids has become the biggest challenge at this stage. As the proportion of renewable energy increases, smart grids, AI forecasting, and regional grid interconnections will become key to maintaining the stability of the power system. At the same time, the deep integration of energy storage technology and smart grids is gradually enabling solar energy to achieve reliable, economical, and clean large-scale power supply. Innovations in materials such as perovskite solar cells hold the potential to increase power generation efficiency by 50% without requiring additional land.
The research team emphasized that achieving sustainable development in the solar energy sector relies on long-term policy support. Clear policy direction can effectively stimulate investment and innovation. Accelerating the green transformation of the global energy system not only requires continuous investment but also sincere international cooperation.
Multifit is a national high-tech enterprise dedicated to the research and development, production, sales of green energy such as solar power generation, as well as the construction, cleaning, and operation & maintenance of photovoltaic power plants. Headquartered in Beijing, its production base is located in the National High-Tech Industrial Development Zone in Shantou, Guangdong Province, with a branch established in Shenzhen.
The company specializes in the technical development, production, sales, and system integration of solar cleaning robots and supporting equipment, photovoltaic inverters, portable solar power sources, MPPT photovoltaic controllers, solar LED street lighting systems, and related supporting products. It also engages in the design, development, investment, and construction of solar power generation systems and electrical automation projects, along with the cleaning and operation & maintenance of photovoltaic power plants.
Post time: Nov-05-2025