Last year marked the first time solar and wind power became cheaper than coal — and 2017 might be an even bigger turning point for the green energy industry. In December, the World Economic Forum released a report that found solar and wind energy have reached parity with, or dropped below, the price of coal in 30 countries. "In an increasingly larger number of countries, it has become more economical to install solar and wind capacity than coal capacity," the report read.

Workers move a solar panel at Solgate Inc., a solar panel assembly plant in Toronto on Aug. 4, 2015. (Photo: James MacDonald/Bloomberg via Getty) Some forecasts say in less than 10 years, renewables could be the cheapest option for everyone. Bloomberg New Energy Finance predicted on Monday that by 2025 solar energy will be, on average, the cheapest energy option globally. Ten years ago, it cost US$600 per MWh to generate electricity with solar power, according to The Independent. Now, it costs only US$100 to generate the same amount of electricity, putting it on par with coal and natural gas. "In an increasingly larger number of countries, it has become more economical to install solar and wind capacity than coal capacity." —World Economic Forum In Canada, renewables are set to grow this year. Both Alberta and Saskatchewan announced plans to support renewable energy programs in 2017. It's also becoming a more appealing option for consumers. The Financial Post reported that on a new house, it's much cheaper to install $10,000 worth of solar panels than the incremental cost of buying that same amount of energy from the grid.