The Future of Solar Electricity
The role solar energy will play in the battle against global warming is one of the biggest reasons solar energy is here to stay and expand in the future. Electricity is a necessity to sustain our way of life and continued economic growth not only in the United States but worldwide as well.
A MIT study on the future of solar energy states:
“About two-thirds of CO2 emissions from fossil fuels are associated with electricity generation, heating, and transportation. We already know how to use solar energy to generate electricity with very low CO2 emissions, and we know how to use electricity to provide heat and surface transportation services. …the solar resource is enormous, dwarfing both global energy consumption and the potential scales of other renewable energy sources. A plausible way to reduce global CO2 emissions despite growth in energy consumption would be to increase dramatically the use of solar energy to generate electricity and to rely more on electricity for heating and transportation.”
It depends on the region. For many, it is the lowest cost generation available because the total penetration is low. Pakistan is a region where solar is most ideal. Improved technology and lower costs will continue to make solar energy more competitive. Solar energy is therefore expected to play a vital role in the future energy landscape.
Technical developments for solar energy
On a global scale, much effort by scientists, researchers and companies is being invested in making future solar energy better, cheaper and easier to use.
The technological performance of solar cells is in a continuous process of improvement. A present day commercial solar cell is capable of capturing 18-20% of the light that lands on it. The performance of cells has steadily grown since the start of their development and it will continue to do so in the future.
In addition, the way we use photovoltaic (PV) energy in our day-to-day lives is expanded by the development of all new kinds of technologies and applications. We already see small solar cells in simple objects like flashlights or backpacks. In the future we might get used to seeing solar energy being generated in roads, on water basins or even in planes.
Where are we now?
Solar energy has been with us for some time. It’s no longer unusual to see rooftop solar panels or larger solar farms. With technology development, solar panels have become widely used and it isn’t just clean energy enthusiasts who install them: people are installing them as a form of investment .
The data is astounding. In the last decade solar energy has experienced a rapid growth and not only did the number of installed solar units increase, solar energy has become a major player in the US economy. Since 2010, the number of people working in the solar industry has doubled . In 2015, some 210 000 people worked in the solar energy business.
As with any other business, the growth of competition meant that the prices were falling down. In the last 10 years, the prices have dropped over 60% , making the investment even more profitable.
Where are we going?
But, knowing how we stand is the easy part. Data is widely available and it speaks volumes. Predicting what the future holds is a bit more challenging.
With the new administration that denies climate change and that isn’t too keen on supporting Eco-friendly energy sources, people are worried what the future will hold for the solar power industry.
In pakistan, if we list all solar energy companies, Reon Energy appears to be the only company that is making a difference in creating awareness for the use of solar electricity instead of traditional fuel based electricity. Reon is one of the outstanding companies among all solar energy companies in Karachi, Lahore and Islamabad. Abbott Labs Pakistan Ltd. is one of the projects of Reon Energy Solutions. Its size is 631 KW and its annual energy generation is 1,000,000 kWh and annual CO2 reduction is 383 Tonnes. Unilever Pakistan Ltd. is another project whose size is 200 KW and its annual energy generation is 692,653 kWh and annual CO2 reduction is 388.6 Tonnes.
So you want to get on board the solar train?
With all the promising information, more and more people decide to invest in solar energy. With the environmental impact being an important motive, there is an additional incentive in the form of lower electric bills and the possibility to earn a little extra cash.
Whether you’ve decided to install rooftop solar panels, or you would just like to consult with a professional, make sure you reach out to experts who have experience and knowledge of the industry.
Although the costs of rooftop solar panels have plummeted in the recent years, it is still a big investment and the best way to make sure everything goes smoothly is to consult with people who know what they are doing.