00:00I think Europe started by leading this.
00:0320 years ago, Europe put 1,000 billion euros of subsidies
00:07and the price of solar went from $1,000 a megawatt hour
00:10all the way down to $10 a megawatt hour.
00:12In that same period of time, the price of oil went from 20 to 50.
00:15So where it's very sunny, solar is just much cheaper.
00:19That is why Saudi Arabia is one of the biggest investors in the world of solar
00:23because the more solar they produce, the more oil they save, the more oil they can export.
00:27That's why Texas is one of the biggest states for wind
00:30because it's cheaper than fossil energy.
00:32That's why China is investing a lot in renewables
00:34because it reduces dependency, it reduces domestic.
00:37So for even the Trump administration, when they see that they can export the U.S. sun,
00:42which is what we're essentially doing, and the U.S. wind,
00:44that helps a balance of payments, that helps trade,
00:46and that helps free up gas that can also be sold and exported.
Comments