New solar power much cheaper than oil, says new report

A study released today claimed that Europe cut emissions of CO2 from electricity generation by 70% by the year 2050 and phase out nuclear power whilst meeting all its electricity needs.

The report, commissioned by the German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety, supports the gradual replacement of old power plants that rely on dwindling supplies of fuel with a greater range of non-polluting sources of energy.

“Every year, each square kilometre of desert receives solar energy equivalent to 1.5m barrels of oil,” said the study’s project manager, Dr Franz Trieb.
Ireland On-Line