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How Solar Energy Became Cheap

Pathway to a Solar-Centric Economy

Gregory F. Nemet

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English
Routledge
18 July 2025
The climate problem is getting worse, but the solutions are getting better. So far, no technology has done more to improve the solutions available to address climate change than solar photovoltaics (PV). This revised edition describes an array of driving forces leading us toward a solar-centric energy system, one where solar power lies at the core rather than at the edge.

Now in its second edition the book focuses on the future of solar, taking into account important changes since it was first published. It includes discussions on further growth and cost reductions, industrial policy, and grid integration of high solar. It has been fully revised to include the most recent data available, and includes two new chapters on India, the most important solar market in the Global South, and Australia, the fastest growing market for rooftop solar. The book concludes with a new chapter on a solar-centric economy. The costs of solar PV modules have reduced significantly since they were first commercialized and, in sunny places, are now cheaper than any other form of electricity. Drawing on developments in the US, Japan, Germany, Australia, India, and China, the book analyses the evolution and success of PV and asks how it can serve as a model for other low-carbon technologies, which require urgent innovation to address climate change.

It will be of great interest to students and scholars of energy technology and innovation, climate change and energy analysis and policy, as well as practitioners and policymakers working in the energy industries.
By:  
Imprint:   Routledge
Country of Publication:   United Kingdom
Edition:   2nd edition
Dimensions:   Height: 234mm,  Width: 156mm, 
Weight:   453g
ISBN:   9781032597492
ISBN 10:   1032597496
Pages:   250
Publication Date:  
Audience:   College/higher education ,  Professional and scholarly ,  Primary ,  Undergraduate
Format:   Paperback
Publisher's Status:   Forthcoming
1. Introduction Part 1: Creating a Technology 2. Scientific Origins 3. US Technology Push Part 2: Building a Market 4. Japanese Niche Markets 5. German Demand Pull Part 3: Making it Cheap 6. Chinese Entrepreneurs 7. Australia and India 8. Local Learning Part 4: Future pathways 9. Solar as a Model to Follow 10. Accelerating Innovation 11. Toward a Solar-Centric Economy

Gregory F. Nemet is a Professor at the University of Wisconsin–Madison, USA, in the La Follette School of Public Affairs, where he recently served as Interim Director. He holds the Salzwedel Distinguished Faculty Chair in Business and Regulation and is also a Vilas Distinguished Achievement Professor. He was awarded the inaugural World Citizen Prize in Environmental Performance by APPAM in 2019. He was a Lead Author for the Intergovernmental Panel on Climate Change’s 6th Assessment Report (2023).

Reviews for How Solar Energy Became Cheap: Pathway to a Solar-Centric Economy

“Gregory Nemet brings new insights to his definitive study on the solar technology revolution. Solar is cheap, Nemet documents in detail, because it became a global technology—a warning to policy makers who are pushing nationalism without regard for how it will undermine technological innovation and solving problems like climate change.” — Prof. David Victor, University of California San Diego “It is rare for a book to aim so explicitly at explaining one of the fundamental transformations of the age; it is rarer still for one to succeed in that aim. Greg Nemet’s ‘How solar energy became cheap’ is one of those rarest of books. And as if that were not enough, it does so clearly and in a way useful not only to those seeking to understand today’s world, but also to those seeking to improve tomorrow’s. If the fight against climate change is to stand a chance, many other technologies need to achieve solar-like growth. This book has important lessons for how that can be done. It is indispensable.” — Oliver Morton, The Economist “Gregory Nemet brilliantly describes how solar became cheap. Now it is time to transfer this solar success story to all types of renewable energy and other technologies to bring carbon dioxide concentrations back to pre-industrial levels. This is the path to the survival of human civilization, for which Gregory Nemet provides important suggestions.” — Hans-Josef Fell, Member German Parliament 1998–2013


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