Cynical about the state of the world I am, sure.. maybe, but I remain hopeful.
Boeing-Spectrolab has recently achieved a world-record conversion efficiency of 40.7 percent with new solar cell technology.
This breakthrough may lead to systems with an installation cost of only $3 per watt, producing electricity at a cost of 8-10 cents per kilowatt/hour, making solar electricity a more cost-competitive and integral part of our nation’s energy mix.
While the operative word there is
may, like I said, I remain hopeful. There is no reason to believe our technology will not continue to improve. Considering my nuclear discussion below where I discuss that the US average cost of residential power is about 10.94 c/kWh, 8 to 10 cents from solar doesn't seem too shabby when you roll in the environmental benefits.
To speak somewhat abstractly (not accounting for energy loss due to transmission, the inefficiencies of storing energy in batteries during the day to be used at night, etc) - with an efficiency of 40% we would only need a square 265 miles per side to produce enough energy for the entire world.
Is it the end all be all? No. Will we actually ever build a 256
2 mile solar panel in the desert somewhere? No.
Is it a step in the right direction? Yup. Is it a viable piece of the energy puzzle? Certainly looks like it could be.