A new global energy market is taking over. Can it ever replace commodities like coal and oil, or hydro and nuclear power?
The global shift towards clean energy is real, and now it finally seems that we are in the midst of a massive solar boom.
While solar is already extremely popular in Europe and North America, it has made some massive strides in the East to push production to levels never before seen.
It’s tough to ignore renewables when even oil major Exxon Mobil stated that, “Solar capacity is expected to grow more than 20 times from 2010 to 2040.”
The global addition of the 55GW of installed PV in 2015 is up 36% from 2014, and China is taking the lead, producing more than 75% of the world’s panels by the end of the year.
So, what has actually triggered this boom and reversed more than a 2-year slump in the industry?
11 Nov 2014 – In a joint announcement between China and the U.S., President Obama set a new target to cut net greenhouse gas emissions 26-28% below the 2005 levels by 2025, while President Xi Jinping announced targets to peak CO2 emissions around 2030
In order to reach this goal, the Chinese government boosted all their targets, and 2015 was clearly a good year.
Chinese solar installation climbed from 12 to 17.8 gigawatts!
Due to mass-production of PV panels, China has brought manufacturing costs down by 80% in the last decade alone…
This drop in price has created a cost comparable to the average household’s electricity rates.
With nuclear power taking a back-seat after Japan’s Fukushima disaster, renewable energy is gaining the attention it so long deserved.
Pushing for even greater use of renewables since the disaster, the solar boom headed to Japan in 2012, and they have become the second largest producer of solar power this year, according to a survey by Bloomberg.
Once Japan has reached cost-revenue equality in solar energy, data suggests that PV technology will become commercially viable in all G7 countries and 14 of the G20 economies.
Globally, solar energy capacity is estimated to hit 200GW by the end of the year.
The war between traditional energy sources versus cleaner, renewable energy nevertheless wages on, but the writing is on the wall…
Millions have turned to solar power as a means of not only getting off the grid, but to combat global warming, our planet’s most pressing issue.
The environmental impact of mining and associated heavy industry literally leads to the destruction of entire eco-systems, and unstable world markets cause unpredictable fuel prices.
Solar is predictable, dependable, and may one day be responsible for reversing the damage already done to our planet.
So long as solar continues to set new records of efficiency, raw materials like iron ore, natural gas, copper, oil, and coal will soon be known as the “struggling commodities”.
Solar technology has become economically viable and increasingly competitive as an alternative to fossil fuels, especially now when governments around the world are finally working together to curb global warming.
In the next 10 years, renewables will add well over 100 nuclear reactors-worth of electricity, and even Bill Gates’ energy outlook has changed.
It’s also important to remember that the solar revolution is creating jobs 10 times faster than any other industry.
The difference here is - solar is a technology, not a fuel.
As time passes, the efficiency will increase and prices will continue to fall.
Solar demand has peaked so much that the biggest limit to installations this year could be the availability of PV panels.
NOTE: We highly recommend that you speak to a solar professional in your area for the best advice on how to get the maximize your savings from your solar panel system.
Solar is finally competing head-to-head with coal, natural gas, and nuclear power, and it continues to reduce global warming in the never ending quest for self-sufficiency.
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There is a reassuringly and extremely harmonious connection between the actual cost and the deployment of solar PV panels.
This relationship is known as the Swanson’s law.
In terms of this law, with every doubling of production and shipment of PV panels, a 20% reduction in cost occurs.
What this law actually indicates is that we may well be on our way to seeing solar panels cost almost as much as the sun’s rays…absolutely nothing!
This fast expansion may finally give PV technology the global recognition and appreciation so deserved by the industry, and it may yet fulfill its destiny as the most reliable source of renewable energy for a sustainable future.
Are you ready to be part of the solar revolution?! You can start right now by entering your zip in the area provided to the right. We will put you in touch with our network of locally qualified solar professionals to discuss your unique solar requirements and benefits.