Solar Power’s Giants Are Providing More Energy Than Big Oil

An oil company is ultimately developing reserves of petroleum that can keep producing for a decade or so into the future. A manufacturer, similarly, is building a factory that can churn out similar volumes year in, year out, until the equipment is worn out or obsolete.

A solar panel sold by Longi in 2024 will be generating electricity for decades. Most carry 25-year warranties. Oil and gas sold this year, however, will almost all be used up in a matter of months. If you look at the long-term flow of energy into the global economy that’s crystallized with each solar cell produced, it’s many times what’s being provided by Big Oil.

If you consider what each group of companies can produce without major additional investments — comparing the volumes in oil firms’ geological reserves to what solar companies will be able to produce before depreciation wears out their plant — clean power moves clearly into the lead.