Shortly after the first modern solar cell was created, the cost of the energy produced by this technology was incredible: in the 1950s, one watt (W) cost $1,865 in current terms. Today, a typical solar panel can provide 250 to 400 watts of power. If we were to calculate at the price then, that would mean that the energy produced by the photovoltaic panels would cost between $466,000 and $746,000 today. This is money that no one will take out of their pocket.

However, over the past 45 years, everything has changed dramatically. The exorbitant cost of energy from photovoltaic panels, which could only be covered in strategic industries such as space, is a thing of the past. Now their level has reached several cents per watt.

Despite this, fossil fuels continue to dominate global electricity generation. Not surprising. Until recently, electricity produced from fossil fuel sources was the cheapest. But the costs of producing energy from renewable sources have fallen dramatically and extremely quickly. Consequently, more and more countries began to divert attention and investment from classical sources of energy production, because they are no longer so attractive.

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