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.
Germany’s decade-long support of the rollout of solar photovoltaic (PV) technology has forced the technology down the cost curve at an accelerated rate. Before 2015, it will be fully commercial for sunny South Africa, Greece, or Mexico – and soon thereafter for Germany itself. Without Germany’s energy policy, this reduction in costs would have taken far longer to achieve.