Without any doubt, fossil fuels are still the sizable source of electricity production and the other smaller renewable methods like hydroelectric, wind and biomass are unable to emerge highly victorious in the electrical power industry. Solar energy technology, although, is one of the fossil fuel alternates that has recently seen a lot of booms. It is not wrong to claim that solar has lately started creating such a huge impact on a common man’s thinking as well as industrialists that worldwide power authorities are now speculating that this technology may out-compete other electricity sources shortly.With current technology, eurosolar is working on to make solar energy the world’s number one source of clean energy.
Producing electricity using PV cells is one of the most efficient ways of utilising immense amount of energy that sun radiates. Scientists claim that the energy received by the earth from the sun in 15 minutes is more than the combined yearly energy consumption of all humans. Although man has always tried to make use of this energy in one way or another, The concept of solar powered electricity thrived in 1950’s. A large solar panel was first set up in a space shuttle, and since then commercial usage has started. With the recent reduction in prices more and more people are getting interested in buying these panels, and the trend is inclining each day. Let us have a look at some statistics to prove the point.
The US has reported 41% spike in demand for solar power in past three years, making this technology second biggest source of electrical energy, not to mention the primary renewable energy source, in the world. Only in America, the demand at the domestic level has surged 60 percent lately resulting in the installation of tonnes of photovoltaic cells capable of producing gigawatts of energy. According to the field expert, these figures are expected to increase significantly in future years. The impact is so huge that the investors have started buying solar stocks as they are likely to show the notable increase in value over next few years.
This change in trend has taken over the world by storm and caused a trade war between America, China and Europe. The only reason why solar technology could not flourish in the past was the installation and maintenance cost of a solar panel, but that has been considerably reduced as a result of multi-national competition at an industrial level. Only from 2008 to 2011, PV cells cost reduced 60% which is a clear indicator that this sector is lucrative for big industries. Moreover, the masses are now beginning to understand that how solar technology can help us protecting our environment by lowering down on emissions from burning fossils. Besides the developing countries like Bangladesh and India, westerners have also started significant deployments of solar panels, which are currently getting 7% cheaper every year.
China is no doubt a great contributor to this industry and the government subsidised companies there have caused solar panel prices to go down considerably in past couple of years. According to American analysts, China is creating difficulties for American Solar business by offering cut-rate prices, but on the other hand, cheap China-made cells are assisting most of the Americans in going solar. China’s solar industry growth rate is mind-boggling, says many technical experts of US.
It would not be false to say that many solar power projects at national levels failed in the 1990s because of very high capital expenditures. Governments at that time didn’t realise that lowering operational costs alone do not guarantee the overall success of power projects. Many such projects halted in the planning phase and faced a lot of criticism from different industries. But the situation improved dramatically with the introduction of low-cost solar panels which enabled society to extend the blessing of electricity to the remote rural areas where the other methods would have failed. It is a heart-wrenching fact that still, more than 1.3 billion people in different countries don’t have access to electricity. This number was even higher a decade ago but thanks to scientists, engineers and aid workers for their tireless efforts in an installation of low-cost solar panels for the benefit of people living below poverty line. Keep on reading to know how solar energy has illuminated different areas of life across the globe.
Solar technology progressed extensively in past ten years, and now it offers many commercial and durable electronic products in developing, as well as, developed countries. Home appliances, transport systems and business products are now benefiting from small solar panels that can offer electricity on the go. One such example is a solar charger fitted inside a bag that prevents your battery from draining while you are travelling. These portable chargers can be outfitted inside a jacket or hat as well, thus allowing one to look fashionable and stylish while being always ready to cater power shortage issues. And oh yes, don’t forget solar powered calculators and wrist watches.
Similarly, solar energy has improved the farming industry by helping in the creation of solar based water pumps and heating systems. The future of solar technology in agriculture is a lot more promising as farmers around the world are making efforts to make use of this technology to become more sustainable.
We, as a society, must also think about this immense source of energy that is not only cheaper, renewable but also safer for the environment. It is encouraging that scientists have even managed to increase the efficiency of a solar panel from 22% to 15% and further efforts are being made to enhance it even more. As the time is passing by, we see the gradual increase in the cost of traditional power. People are only putting to it because of low CapEx, although the time is not far away when the capital expenditure of solar energy setup will be overcome so much that folks will have no option but to adopt it. If solar is a right decision in the long run, why not to switch right now?