According to a BloombergNEF report, solar energy will surpass coal, oil, and natural gas to become the primary source of electricity in the next decade. This shift is occurring against the backdrop of AI technology development and full industrial electrification. Experts believe that the falling cost of solar panels makes it the most economically attractive option, reports Techcrunch.com reports .
Nevertheless, because AI data centers require a continuous power supply, coal and natural gas are expected to provide 51% of the energy balance needed for these centers by 2050. Technology companies are becoming the key factor in determining which energy sources will dominate in the future.
However, these forecasts are not set in stone. Giants like Google are investing in large-scale batteries from Form Energy, advancing energy storage technologies. Geothermal and nuclear energy are also entering the competition to power data centers.
The decline in solar panel prices is linked to China's industrial policy and increased mass production. By 2035, the cost of solar energy is expected to drop by another 30%. In countries like Spain and Italy, surplus solar energy production is encouraging developers to build hybrid power plants integrated with batteries.
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