Will solar energy’s costs decrease?
If so, by how much? Will it’s efficiency increase? If so, by how much? All these big questions usually confuse us the most.
Solar energy, among other renewable sources of energy, is a promising and freely accessible energy source for overseeing long-haul issues in an energy crisis. The solar business is growing consistently everywhere throughout the world because of the high demand for energy while significant energy source, fossil fuel, is limited and other sources are costly.
The solar industry would definitely be the best option for future energy demand since it is superior in terms of availability, cost effectiveness, accessibility, capacity, and efficiency compared to other renewable energy sources. To add to that, it will likewise help in monitoring our remaining fossil fuels so that it may not run out in the coming 100-500 years, as it has been predicted.
The power from the sun is the thing that we call solar power. Solar power is the energy that originates from the sun as light and heat energy, and after that, it is later changed over into electrical energy through solar panels. This sort of power is totally free, isn’t that so? Why should we put a lot of expense on other sources of energy, when there is a completely free and healthy power?
Even though most people are aware of photovoltaic cells, solar panels have been expensive enough to keep them firmly in the luxury bracket. For years the low efficiency of solar panels and the high costs per square inch of these panels made solar power economically unviable.
That has now changed. In the five years between 2008 and 2013, the cost of solar panels fell by over 50 percent. Between 2015 and 2017, experts estimate the cost will fall another 40 percent. The estimation that the costs will fall fast enough to allow solar to contribute 20% of our energy consumption by 2027. That benchmark would have been unimaginable a few years back.
It seems the technology has caught up in terms of costs and efficiency.
Solar energy is clearly the future. The cruel drive of technology will, in the long run, enable solar energy to contribute a major part in the yearly energy needs. Better and more proficient devices will be powered by the sun and can store this energy for longer periods. The coming energy boom is set to change lives until the end of time.