The Current State of Solar Energy Industry

Solar energy is among the cleanest and the most natural forms of energy in the world. Over the past few years, interest in solar energy has gained momentum making drawing long-term investors from all walks of life. Currently, solar energy is being viewed as the best alternative energy. It is due to this reason that it is being projected to becoming the largest source of energy in the world by the year 2050.

“In most countries around the world there is still huge potential to dramatically increase the amount of energy we’re able to get from solar. The only way to achieve this is through a combination of both governance and individual responsibility. Alastair Kay, Editor at Green Business Watch

In the recent past, there has been a shift away from the use of fossil fuels as well as other types of energy which cause pollution. The shift has resulted in people opting to use clean and natural energy which among them is solar energy. Other forms may include biomass, wind and hydropower systems which are not in abundance.

  • Current different kinds of solar

There are two main forms of solar energy light which is harnessed through the photovoltaic technology and thermal or rather heat energy. The solar energy ranges in prices, there are cheap solar panels which are characterized by thin-film collectors which are less efficient and others have a high cost since they are characterized by high quality and highly efficient solar panels.

Apart from solar panels, some company sells solar energy through distribution channels while others use outlets which are centralized an example being fields for utility or large solar firms. The solar energy sector has a supply chain. Such players include batteries manufacturers who manufacture batteries which store solar energy especially when the sun is out.

  • A cheap long-term pick

There has been a short-term decrease in the solar energy industry for the past few years. This has been due to the forces acting in some of the major global economies such as slowing demand in China which lead to a low sales turnover. After the elections in USA which saw Donald Trump elected as the president of the free world. This came as a shock to many since Trump characterized climate change hoax.

Solar energy has started hitting headlines with the sector has some of the best success stories globally. In Germany, for example, has recorded production of 22 gigawatts of solar energy on an hourly basis which is equivalent to the energy produced by 20 nuclear plants. The United Kingdom also has also taken bold steps in the sector by converting some coal mines into solar farms. The four farms converted are expected to generate 75 gigawatts of solar energy annually. In the United States, the sector has become so vibrant such that it is among the greatest job creators.

Final Thoughts

After great minds have come together and more emphasized on clean energy, solar energy is being prioritized in most parts of the globe. However, the sector is yet to be in its best shape but among the people working in the sector are among the smart people. Many countries have set ambitious goals towards full implementation of solar energy. Germany, for example, is targeting to draw 30 percent of the energy they use form solar. China, on the other hand, wants to draw 20 percent of the energy from solar. The United States and Australia wants to be fully powered by solar by the year 2030.

Salman Zafar

Salman Zafar is the Founder of Cleantech Solutions, and an internationally-acclaimed blogger, journalist, consultant, advisor and ecopreneur. His areas of expertise includes waste management, renewable energy, waste-to-energy, environment protection, resource conservation and sustainable development.
Salman is a prolific environmental writer, and has authored more than 300 articles in reputed journals, magazines and websites. He is proactively engaged in creating mass awareness on renewable energy, waste management, sustainability and conservation all over the world.
Salman can be reached on salman@cleantechloops.com.

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