In a new report from some of the leading scientists who track the energy production industry, there are new reports that solar energy produced from solar panels is going to cost the same or less to produced in the near future when compared to fossil fuels.  The significance of solar energy being cost effective to produce may dramatically change the entire world economy.  As electricity becomes cheaper to produce, we will most certainly begin to see many more vehicles running off electricity which will over time reduce the need for oil production.

The automobile industry is already looking at ways to increase the use of hybrid vehicles and other electrically propelled modes of transportation.  The reality is that fossil fuels such as oil are becoming increasingly expensive, and there is no end in sight.  Solar power derived from sunlight shining from our sun is something that has remained a constant for thousands of years and is not expected to end anytime soon.  Up until now, the cost of solar panels and the electricity they produce has been much more expensive to comparable fossil fuels, but the dollar values of the oil compared to photovoltaic solar cells is altering that whole equation.  There are estimates that as close as the year 2015 solar might be at parity with fossil fuels in terms of cost (according to a recent news article about solar and fossil fuels.)

The actual math that is necessary to determine which is giving the consumer the most electricity or energy for their buck is a very complex set of math.  For instance, the solar tax credits and renewable energy credits that some states and the US Federal Government are issuing very well may not last very much more into the future, so the numbers will have to be re-checked and adjusted once again.  But as the technology becomes more and more advanced, there are certainly going to be ways to capitalize on solar energy for many decades into the future.