ONE OF THE most destabilizing facts of the last five years is this: The price of a solar panel has fallen 75 percent. The engineers have done their job, and that offers many possibilities.
We usually look at what the developed countries are doing with renewable energy, such as the fact that there were days during summer 2014 when Germany was generating three quarters of its power from solar panels (Germany!). But the most amazing miracles—and it doesn’t really stretch the word “miracle”—are happening in the poorest places, where for the very first time lights are blazing on.
Take rural Bangladesh, where fossil fuel has barely penetrated in the 200 years of its ascendancy in the West. There’s no grid—at night it just goes dark. Until the last few years, when low-cost solar panels and innovative financing arranged by groups such as the Grameen Bank have allowed the very rapid spread of solar panels. How rapid? As many as 80,000 new connections a month, which is far more than in the United States. Fifteen million Bangladeshis live in solar-powered houses already, and the government is hoping to have the entire nation hooked up by 2020.