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Solar Power Expected to see Sixfold Growth
Posted by: JackSawyer // Student
The International Renewable Energy Agency has recently come out with an encouraging prediction for solar energy - they expect it to grow sixfold by 2030. This projected growth is supported by the understanding that solar will continue to decline in price to the point where it becomes more affordable that fossil fuel alternatives.
Solar photovoltaic technology could go down in price by 59 percent by 2025 according to a report by the Abu Dhabi-based industry group. If this prediction falls through, it would make solar the cheapest form of energy. As these factors start to fall in place we will see the solar market truly blossom and begin to take over the energy market. With this, entrepreneurs and businesses will follow, and subsequently, the technology and cost will only get better as companies try to gain competitive advantages.
Other components that could increase solar growth further is better panel efficiency, smarter batteries, and modernized power grids. Fortunately, these are aspects of solar that are also being addressed. Research's have been breaking efficiency records and trying to come up with solutions to solar's shortcomings - one of those being a lack of power production in poor weather conditions. Recently researchers found a way for solar panels to produce energy when rain hits the panels. Advancements like this will only increase the benefits and value of solar energy.
What do you think of the future of solar? Will it become the our primary source for energy?
Habboush, Mahmoud, and Claudia Carpenter. "Solar Power to Grow Sixfold as Sun Becoming Cheapest Resource." Bloomberg.com. Bloomberg, 22 June 2016. Web. 28 June 2016. <http://www.bloomberg.com/news/articles/2016-06-22/solar-power-to-grow-sixfold-as-sun-becoming-cheapest-resource>.
http://www.bloomberg.com/news/articles/2016-06-22/solar-power-to-grow-sixfold-as-sun-becoming-cheapest-resource
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