Solar Power Explodes in 2022
The global energy economy is shifting to a new, more efficient system. Do you think it will replace coal, oil, or hydroelectric power?
The worldwide move to renewable energy is true, and it now appears like we are during a solar boom. While solar power is already widely used in Europe and the United States, enormous progress has been achieved in the Far East, allowing output to reach previously unheard-of levels.
By 2040, solar capacity will have increased by over 20 times, according to even the largest oil companies.2015 saw a 36% increase in the number of solar panels installed globally, with China generating more than 75% of the world’s panels by the end of the year. Is this a sign of things to come or the end of a two-year slump?
China and the United States have formed a solar pact.
As of the 11th day of November in the current year, at an international summit involving the U.S., China and the European Union, Presidents Obama and Xi Jinping established new goals to reduce greenhouse gas emissions by 26-28 per cent by 2025.
The Chinese government increased all its targets to achieve this aim, and 2015 was a successful year. The amount of solar power generated in China has increased from 12.8 GW to 17.8 GW! Chinese mass-produced PV panels have driven down manufacturing prices by 80% in the previous decade…Because of the price decrease, the cost is now equivalent to what most people pay for power.
Global Disaster: Just What We Need?
Renewable energy is getting the attention it has long deserved after nuclear power in Japan was forced to take a back seat following the Fukushima tragedy. According to a Bloomberg poll, the solar boom came to Japan in 2012, and the country is now the world’s second-largest generator of solar electricity this year. Moreover, a new generation of Japanese energy experts claims that Japan will soon be relying on solar power instead of imported uranium and fossil fuels.
Data implies that PV technology will become economically feasible in all G7 nations and 14 G20 economies if Japan reaches cost-revenue equality in solar energy. As a result, an estimated 200 Gigawatts of solar energy capacity will be available worldwide.
Solar Power vs Fossil Fuel Debate
A sunset comparison of solar energy and traditional fossil fuel sources renewable and traditional energy sources are still at war, but the writing is clearly on the wall.
Many are turning to solar power to not just get off the grid but tackle global warming, our planet’s most critical concern. The devastation of entire ecosystems is caused by the environmental effect of mining and heavy industries, and uncertain international markets contribute to erratic fuel costs. Yet, because of its predictability and dependability, solar energy has the potential to undo some of the harm that humankind has already done to the world.
A new term for raw resources like iron ore and coal will soon be “struggling commodities” because of the rapid advancements in solar energy efficiency.
Could Solar Be the Future?
It has become economically feasible and more competitive as an alternative to fossil fuels, especially as governments worldwide finally begin working together to reduce global warming. More than 100 nuclear reactors’ worth of power will be generated over the next decade from renewable sources, and even Bill Gates’ attitude on energy has shifted. Additionally, it’s crucial to keep in mind that the solar revolution produces more employment than any other industry.
Solar power is not a fuel but rather a technology.
Increased efficiency will lead to lower pricing as time goes on. However, solar demand has reached such a high point that PV panels may be the largest constraint on installations this year. We strongly advise you to consult with a local solar specialist for the best guidance on making the most savings from your solar panel installation. Solar is now on equal footing in the battle for self-sufficiency with coal, natural gas, and nuclear power when it comes to renewable energy sources.
The Final Blow – Swanson’s Law
Law of Swanson
Solar PV panels have a reassuringly and exceptionally harmonic relationship with their real cost. Swanson’s law is the name given to this connection.
According to this rule, PV panel prices drop by 20% with every doubling in production and shipping. Solar panels may soon cost as little as the sun’s rays…nothing! This law suggests that this may be the case. Even if you don’t have the money to buy solar panels, some companies will put solar panels on your roof for free!
PV’s rapid growth may finally bring the industry-deserving global recognition and appreciation. It may yet fulfil its destiny as the most reliable renewable energy source for a sustainable future. PV’s rapid expansion.
When will the solar revolution begin? You can get started by entering your zip code in the box provided. Then, our network of certified and local experts will discuss your solar needs and advantages.