Solar Doesn't Need Subsidies, Says US Energy Secretary
The Energy Secretary for the United States, Ernest Moniz, thinks that the costs of producing solar has fallen so low that it would be competitive with oil and gas even without the subsidies received from the government.
Moniz, who was trained as a nuclear physicist, explained to reporters that while the Obama administration is still in favour of the current push to extend renewable energy tax credits in Congress, there really is no need for them anymore.
Moniz's belief comes from statistics that show the solar and wind market gaining momentum. At the National Clean Energy Summit in Las Vegas, he backed up his ideas by citing rooftop solar panels, which could become as cheap as 6 cents per kilowatt hour in the near future.
Wind energy is also falling in price, and electricity from wind farms is now cost-competitive with oil and gas.