Renewable energy is often discussed in political terms, but here’s a straightforward look at the financial side.

In the last decade, solar energy costs have fallen dramatically—by nearly 90% since 2010. 

In top markets, solar panel costs dropped from about 29 cents per kilowatt-hour to under 3 cents. By contrast, new coal and gas plants still cost between 5 and 17 cents per kilowatt-hour, and these figures don’t include the unpredictable nature of fuel prices.

According to firms like Lazard, solar and wind power now average around 2 cents per kilowatt-hour, while operating existing coal plants typically costs 4 to 8 cents. This clear cost advantage is encouraging a shift away from fossil fuels.

Globally, the change is evident. Countries like China, Europe, the United States, and India are ramping up their renewable investments, with almost every new power plant built today relying on solar or wind. 

Nuclear power is also seeing increased investment as a reliable, low-carbon option. As we have discussed on previous shows, that is my primary reason for being so bullish on uranium stocks.

The bottom line is that even if you’re not interested in the conservationists’ approach to energy, renewables are replacing fossil fuels rapidly.

This week’s guest on Wealth Formula Podcast will help you capitalize on that.