Solar energy – 7 reasons
Now, solar energy is really going to break through. This is what the US Rocky Mountains Institute believes.
The institute listed ten reasons for it. BetterWorldSolutions is pointing out 7 of them.
From the Rocky Mountains Institute: ‘(…) We feel the solar industry does not face a cloudy future. Far from it. Policies, regulations, and the stock market can’t stop the continued growth of this clean, affordable, reliable technology; the future of PV is bright. (…)’
- PV manufacturers are developing
Where PV manufacturers were used to focus on a small segment of the market, they are now serving quite a big piece. As a result, the companies are less sensitive to changes in energy policy, for instance, if a subsidy is abolished.
- Worldwide still much opportunities for growth
Internationally market for PV is still growing very fast.
Last year, 59 gigawatts was generated by solar energy worldwide. In 2016, the US Rocky Mountains Institute estimated an increase up to 65 gigawatts.
- Especially emerging economies. such as China and India, do have still a lot of growth potential
- And the Middle East is expected to grow fast
- Furthermore, more than one billion people in developing countries do not have any electricity power at all. If they are supplied by cheap PV, their opportunities will grow fast. The construction of a complete power grid with high-voltage cables is not necessary. A PV can generate electricity right where they need it.
- Robust and reliable
On average, manufacturers give 25 to 30 years warranty on PV. In practice, the panels will last much longer. The pioneers of the seventies are still using the PV from that period. Also, the inverters, the devices needed to connect solar panels to the power supply, turned out to be very reliable.
- Cheaper than fossil fuels
According to the American investment bank Lazard, Green Power is cheaper than coal or gas, to generate electricity. In addition, they mean especially the large-scale power production plants like the CSP. A solar power plant in the US state of Nevada produces 1 kilowatt-hour for 3.87 cents. Private PV is relatively expensive, but they have the advantage that there is no need to pay for the transport of electricity.
- Prices are fallling
By larger-scale production, improved production technologies and more efficient systems, the prices will reduce. The next three years, one of the largest manufacturers of solar cells in the world in Canada, expects prices will fall by a quarter. Greentech Media, a company that publishes on renewable energy, expects prices will fall by 40 percent in 2020.
- Coal plants are closing
Many countries have proposed to close the coal plants to reduce CO2 emissions. For instance, coal plants will be phased out in the UK and in the Netherlands. The loss of electricity will have to be compensated. Solar energy could be a sustainable alternative to coal-fired plants.
- New business models
There is continuous innovation to make solar more affordable, accessible, and profitable. Even large, conservative investor-owned utilities are adding more solar (e.g., Southern Company with its three military bases of over 90 MW under construction and several large utility scale solar farms publicly announced by Mississippi Power) forging new business models in highly regulated markets.
Regulators like the New York Public Utilities Commission play an equally important role in opening the field in business model innovation in current and emerging sectors.
Link to the paper ‘economics of Grid Defection
- MIT developed solar cells as light as a bubble
- Increased green power threatens energy companies
- Investments CSP rocking
- Rivers of Fresh water using Desalination on Solar Power
- India Targets 10,000 of PV to Fuel Stations
- 1,200 MW of Solar Power expected in Nigeria
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