Casey Handmer

So we're putting your subscription up to $110 for an electricity capacity charge.

And then they could go out and buy turbines for prices that would make your eyes water.

Yeah, I do.

The learning rate for natural gas is nowhere near as steep as solar, which just tells you that it's easy to make solar panels, much easier to make solar panels.

There are actually very few manufactured products which are easier to make.

Like the learning, the right solar coefficient is 43%.

So every time we double communal production, we get a 43% reduction in cost.

Well, I mean, roughly speaking, there's like 10,000 manufacturing process engineers working on this full-time.

Yeah, so in order to sustain this over a long period of time, you obviously need to have demand elasticity that exceeds your learning rate.

So otherwise, after a couple of booms, you would saturate your market at the current price and you'd have no additional growth.

But in this case, roughly every two years, we're doubling production, two and a half years doubling production.

The price is coming down by a factor of 40-odd percent, so roughly 15-20% per year.

And then just as a result of that price reduction,

demand skyrockets by probably six times more than that additional marginal production capacity increase.

And this is one point where I'll say, actually, the so-called pros are definitely wrong.

Conventional wisdom is like, oh, solar demand is going to saturate this week.

It's going to saturate.

We've got a graph here somewhere that's like, this year is it.

It's never going to grow anymore.

And instead, it's just like blasting out the top of the graph.