Green Daily

Is it possible that solar power will be more cost effective than coal in 12 years? It seems like a pipe dream, but the US government along with huge investors like Goldman Sachs, Chevron, and Google seem to think it's a little better than just a distant possibility. Factoring in tax incentives, likely carbon-capping legislation, and rising natural gas prices, experts are estimating that the prices of coal and solar power will flip-flop by 2020.

While photovoltaic panels are making good progress towards becoming more affordable, it's the future of solar thermal technology that investors are the most excited about. Using mirrors to direct the sun's rays to power turbines in the nation's desert areas could provide as much as 50% of local power -- and at peak times when air-conditioners are running full blast.

The founder of Sun Microsystems is backing a new thermal solar plant in the Mojave Desert which uses 550,000 mirrors that harness the sun's energy to power about 112,500 homes in the LA area. The power comes at a much higher cost than coal, but the station certainly demonstrates the potency of solar thermal energy. From the Bloomberg article:

"Chevron, Goldman Sachs, FPL, PG&E and other companies have filed more than 50 applications with the Bureau of Land Management to lease government-owned desert property for solar power systems... Google's philanthropic division put $10 million into eSolar, a start-up in Pasadena, California. Dan Reicher, a former Energy Department official who manages the unit's climate and energy initiatives, said there will be more such investments."

[via CleanTechnica]