November 25, 2014

Solar Power Could Be Number One Energy Source by 2050

Solar Power Could Be Number One Energy Source by 2050

Posted on Friday, October 31, 2014 at 9:09:31 AM

Even if the Earth’s health prospects are dimming a bit from the impact of global warming, there is a light at the end of the tunnel. And it’s coming from the Sun.
The undimming orb that marks the center of our solar system is a steady source of light and energy for our planet. It is one of the best alternative energy sources available to us. And a new study shows that humans may be on the cusp of utilizing it better. 
Solar power has been developing at a rapid rate in recent years. Technological improvements have led to much greater harvesting power for solar arrays, as well as a concurrent reduction in cost, making installations available to more companies and residents than ever. This trend, according to the International Energy Agency, means that solar power could eventuallyovertake oil and gas as a main source of energy for the planet in the very near future.
The demand for solar energy is expected to increase by double over the next eight years, with the US representing one of the largest markets for this growth. At present, solar only provides about 0.5 percent of electricity needs around the world and 0.2 percent in the US. But with falling costs and rising productivity, those numbers won’t stay low for long.
As an example, photovoltaic systems will see their costs drop by 65 percent by 2050, leading to wide scale adoption during that time. That increasing adoption rate, coupled with government-subsidized credits, should push more and more businesses to pursue alternative energy production methods, which in turn will further drive down costs and improve technology. And lest anyone be worried that photovoltaic systems won’t meet the rising demand fully, the study suggests that solar thermal electricity can step in to round out a fuller solar picture. Go Solar get a free consultation

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