Solar power is a safe, clean and renewable energy resource that will no doubt play a vital role in powering our future.
Last 2016, solar power saw a resurgence — from cheaper solar panels to innovative roofing for houses and cars, to solar powered roads, and even to powering an entire island. It seems we have entered a new age in solar energy. Well, it doesn’t end there. In the years to come, we may see the rise of solar power,.
Renewable energy technology, especially solar and wind, has made exponential gains in efficiency in recent years, enough to achieve economic competitiveness and, in an increasing number of cases, grid parity. For instance, the unsubsidized, levellized cost of electricity (LCOE) for utility scale solar photovoltaic, which was highly uncompetitive only five years ago, has declined at a 20% compounded annual rate, making it not only viable but also more attractive than coal in a wide range of countries.
Solar power has become significantly cheaper in the last few years, and installed capacity has grown substantially in the same period.
World׳s energy demand is growing fast because of population explosion and technological advancements. It is therefore important to go for reliable, cost effective and everlasting renewable energy source for energy demand arising in future. Solar energy, among other renewable sources of energy, is a promising and freely available energy source for managing long term issues in energy crisis. Solar industry is developing steadily all over the world because of the high demand for energy while major energy source, fossil fuel, is limited and other sources are expensive. It has become a tool to develop economic status of developing countries and to sustain the lives of many underprivileged people as it is now cost effective after a long aggressive researches done to expedite its development. The solar industry would definitely be a best option for future energy demand since it is superior in terms of availability, cost effectiveness, accessibility, capacity and efficiency compared to other renewable energy sources. This paper therefore discusses about the need of solar industry with its fundamental concepts, worlds energy scenario, highlights of researches done to upgrade solar industry, its potential applications and barriers for better solar industry in future in order to resolve energy crisis.
Post time: 04-29-2017