Solar energy's growth is driven by economics more than environmental concerns. Solar costs have declined by 90% this century, mainly in the last decade. In 2021, solar became cheaper than any other technology in 16 US states without subsidies. Wood Mackenzie's Ravi Manghani predicts another 15% to 25% cost reduction over the next decade due to technological innovations. Solar will dominate new power capacity additions, with up to 8,000 GW expected by 2050, making it competitive in most power markets by 2030 and pushing thermal generation out of the market.