Both the United States and China are working hard to slash the costs of solar energy. But they're going about it in two very different ways.
It's likely that in the very near future, solar-generated electricity will be cost-competitive with coal-generated electricity, according to an analysis from Oilprice.com. Getting there has been a major goal for both the United States and China, the world's two biggest energy consumers.
But whereas the United States has gone after the problem mostly through private enterprise (albeit with a government kick-start) the Chinese are "beating the problem over the head with piles of cash until the desired outcome is achieved," Oilprice said.
So which country will achieve cost parity with coal first? Right now, there are indications that China is ahead—though that's far from certain. In the end, the report says, what really matters is that cost-effective renewable energy may be near.
For the full story in Oilprice.com, click here.