The Birth of a Power Source
Some argue that the market, not governments, should decide which technologies come out ahead in the race to decarbonize the power system. But the market can work its magic only when individual companies are large enough to fund the early learning curve of a new technology until it becomes competitive.
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OXFORD – Germany has just crossed the threshold of 20% renewable power – honoring its 2020 commitment to the European Union eight years ahead of schedule. As a bonus, towards the end of the decade, the world will also thank Germany for affordable solar power – not because the technology was invented there, but because its citizens will have paid for the critical cost-reduction phase by offering a large market.