Green solar power has become a popular expression in the media. Turn back the clock to the middle of the 20th century, though, and it would have been little more than the stuff of science fiction novels.
Being able to use the vast energy provided by our sun in order to power our homes, and even entire communities, is no longer a dream. We’ve seen what solar energy technology can do for us, and there is good reason to believe that we are just scratching the surface. The potential for green solar power is basically unlimited.
So, what’s in store for the future of solar power? What position does solar hold with respect to the overall future of energy? Let’s look at a bit more detail.
How the light of the sun turns into usable electricity
Solar power, as we know it today, can be broadly divided into two different areas. The most common one, with which we are all familiar, is the Photovoltaic (PV) solar panel. These panels are on roof tops across the country and are a popular source of energy for our homes. Sunlight striking the panel causes a flow of electricity which we can easily convert into power usable by our home energy grid.
The second type of solar power production is Concentrating Solar Power, or CSP. This system uses lenses and mirrors to focus sunlight into a small, highly concentrated area which produces tremendous heat. This heat energy changes into electricity by using a steam turbine connected to a generator.
The main focus of green solar power, moving forward
These two types currently dominate the solar energy landscape. This is set to continue for years to come, with solar panel technology currently at the forefront of consumer-level green solar power systems.
Of course, new developments could alter this landscape, but those developments are difficult to foresee at the moment. Further expansion of the industry could also lead to a shift in focus.
Solar power in the context of the energy industry
According to industry estimates, renewable energy sources will continue to grow. The experts expect it to fill a substantial percentage of global electrical demand by the year 2023. Among these renewables, photovoltaic systems are continuing to take the lead in the electricity sector.
With new continued technological developments, though, Concentrating Solar Power could become an equally viable solar power source in the fairly near future. CSP plants are appearing across the globe, and as prices come down, we may start seeing them supplying power to our homes.
The continued popularity of PV green solar systems
Photovoltaic systems are well positioned in these global energy trends because they are so versatile and environment friendly. Solar applications are starting to reach a point where the market feels confident in the technology as well as in the direction it is heading. This keeps fueling more demand for the segment, allowing for the creation of better products at more affordable prices.
Solar industry forecasts
Because of those developments and factors, the solar energy industry continues to grow. From 2015 figures of $86 billion to an astounding $422 billion in 2022, according to some industry forecasts. From large markets like China to smaller ones such as Japan, there is definitely a lot of potential for increased adoption. The flexibility of PV systems also allows it to grow in markets such as Africa and the oil-rich Middle East.
As long as industry players continue to capitalize on the current move to green solar energy, the momentum of solar power seems poised for tremendous growth. Coupled with new technological developments the output of home solar installations keeps becoming more efficient and economically attractive.
The mass-market appeal and market dynamics lean in favor of the solar industry well into the future. Solar might not supplant conventional sources of electricity just yet, but it’s well on its way. Widespread adoption has changed the playing field. Unlikely when the technology was in its infancy, this caveat no longer applies.
Contact us for a free no-obligation quote for your home energy needs. We will provide a full assessment at your premises at a time of your choice. Let us answer all you questions and show you how it will benefit you. Escalating electricity utility bills can become a thing of the past!