Repost from The great energy challenge blog from Nat Geo | Feb 22, 2012
Fracking and boom in Bakken North Dakota shale wells has resulted in all time low price for natural gas. However, this is unlikely to continue over the long term because of: regulation, underperformance of some of the wells, and on the demand side: export of CNG, use of NG for electric power generation should drive the price soon.
Boom in PV production has resulted in PV panel cost o $0.70 per watt (this is for crystalline panels - the industry standard)(this used to be $8.00) and comes at parity with natural gas. Installed cost will be at $2.70 for commercial and $3.60 for residential.
Grid electricity continues to rise despite decreasing whole sale price.
Thus the low natural gas price and will not affect the long term viability of solar energy
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