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The cost of new Photovoltaic power panels has fallen dramatically in the last decade. Utility-scale solar is 7 times cheaper (per generated kWh) in 2020 compared to 2010. The world's total solar capacity been growing at an exponential rate of 20-30% each year, and added 126 gigawatts of capacity in 2020 alone.

US President Joe Biden has set a target to reach 80% of US electricity from carbon-free sources by 2030, and 100% by 2035. UK Prime Minister Boris Johnson pledged for the same goal by 2035.