Solar energy is now so cost-effective that, in the sunniest countries, it costs as little as £0.02 to produce one unit of power, making it cheaper than electricity generated from coal, gas or wind, according to a new study from the University of Surrey.

In a study accepted for publication in Energy and Environment Materials, researchers from Surrey’s Advanced Technology Institute (ATI) argue that solar photovoltaic (PV) technology is now the key driver of the world’s transition to clean, renewable power.

Professor Ravi Silva, co-author of the study and Director of the ATI at the University of Surrey, said, Even here in the U.K., a country that sits 50 degrees north of the equator, solar is the cheapest option for large-scale energy generation.