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Magical sun : the rise of solar energy

Document type: article
Download file(s): 137990 (95 KB)
Abstract: Shrinking reserves of fossil fuels and growing anxiety over future energy security have boosted investments in renewable energy worldwide. Alarming climate change scenarios have also increased the focus on creating sustainable energy economies. The solar industry is growing incredibly fast and technology is developing at high speed. Soon the retail price of solar generated electricity will be competitive with that of electricity generated in conventional power plants. The current solar boom is largely the result of market incentives introduced by governments. Critics question the potential of solar energy and note that it currently contributes a meagre 0.1% to worldwide energy consumption. But worldwide volumes for solar energy, the fastest-growing power generation technology, rose at an average annual rate of 56% over the last five years. The Solar Europe Initiative (SEI), a joint initiative of the European Photovoltaic Industry Association (EPIA) and the EU PV Technology Platform, is currently reviewing a preliminary estimate which indicated that the contribution from photovoltaic (PV) systems may be as high as 6-12% of the total EU electricity consumption by 2020.
Authors: no author
Category: General
Serial number: 13
ISSN: 1874-2033
Journal: The Broker
Keywords: energy resources , sustainable development
Language: eng
Organization: The Broker
Year: 2009
Right: © 2009 IDP. This article has been licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 Unported license.
Subject: Environment and Natural Resources
Start Page: 11
Title: Magical sun : the rise of solar energy