The price of solar and wind power has fallen so dramatically that, for the first time in history, many subsidies are no longer necessary, according to a new report from Bloomberg.
For years, one of the most prominent criticisms of renewable energy has been its economics -specifically, that most renewable energy initiatives were too expensive to exist without government subsidies. Now, that argument seems to be invalid, as the cost of wind and solar energy have dropped 50% and 85%, respectively, since 2010.
Decades of subsidized research and development have fueled this reduction in price, and now, the economics are right for startups to enter the field and make some noise. We're already seeing it happen.
At the end of August, BBOXX, a British startup that sells plug-and-play solar power systems to consumers, raised a $50 million Series D. Energy Vault, a Swiss startup developing new batteries for eff
The article, Cleantech is coming of age first appeared in AngelListy Weekly on Friday, 20 September 2019.