> His forecasts of the impact of solar and wind is based on prices and performance from 2008. Prices have come down an order of magnitude since then

This is going to sound like one-upmanship or nitpicking, but I think it's important to know that this understates the change. https://web.archive.org/web/20100722072720/http://www.solars... says that in May 02009, crystalline solar cells in China cost €2.17 per peak watt, a decline of 26.4% from January 02009, whose price is not listed directly but which we can calculate as €2.95 per peak watt. If the price had declined by only an order of magnitude since January 02009, it would now be €0.295 per peak watt.

But, according to https://www.in2013dollars.com/europe/inflation/2009?amount=1..., "€100 in 2009 is worth €145.57 today." So, if we adjust for inflation — as we should — if the real price had declined by only an order of magnitude since January 02009, it would now be €0.429 per peak watt.

In fact, today, "mainstream" solar modules are currently €0.130 per peak watt, according to https://www.solarserver.de/photovoltaik-preis-pv-modul-preis..., and those are Chinese monocrystalline modules.

So the price of solar modules now is actually 3.3 times lower than what a careful reader would infer from your remark. Solar module prices have declined since January 02009 by not merely an order of magnitude but 33×. That's slightly closer to two orders of magnitude than to the single order of magnitude you said. Now they are at 3% of the price they were at when MacKay wrote his excellent book.

(Which does, as others have pointed out, explain the efficiency advantage of heat pumps.)

one thing to note is that the solar industry has receded quite a bit in the last two years in China due to overproduction (or, as the Chinese state likes to call it, 'involution' or 'too much competition'). solar is cheap now because 1) Chinese subsidies are reduced, shrinking their installation market and 2) overproduction leading to essentially fire sales. once production stabilizes against the market, costs will go back up. it's really never been a better time to buy panels than now

https://dialogue.earth/en/energy/behind-the-layoffs-in-china...

>Some observers estimate 20-30% capacity reductions are required, but demand shrinkage could increase that figure. “I’m particularly worried about the downstream side,” says Reis. “Even as prices collapsed, demand remained robust for three years, but power market reforms are now upending the entire renewables market.”

combine this with the global backing-off of the Paris Agreement (and subsequent subsidy defunding) and power utilities in the US abandoning clean energy goals in order to immediately increase output for proposed hyperscale facilities and you've got something of an enduring demand shortage

that said, there is a lot of automation happening in that industry right now (which is likely going to cause a small recession in China due to half a million to a million workers being out of a job, depending on how much the parts manufacturers also automate) so it's possible production with continue improving as more R&D is dedicated there. only time will tell!