IPCC acknowledges importance of Solar Energy in fighting Climate Change
USA solar modules prices set to rise as Government plans more stringent subsidies on Chinese Imports
April 28, 2014Solar Energy becomes 2nd biggest contributor to electricity capacity additions in the USA
April 30, 2014Solar Energy can fight Climate Change
We at Greenworldinvestor have always been very bullish about the prospects of solar energy growth, given the sharply declining costs, ease of 
implementation and its role in fighting climate change. Even IPCC is now acknowledging the same with its most recent 5th report putting solar energy as the most important factor in reducing carbon emissions from electricity.
Solar energy has become the most important factor in reducing carbon emission in recent years, as more and more of gigawatts of solar energy capacity is being put up every year. The costs of solar electricity has declined to around 10c/watt from around 40c/watt five years ago. Given the adverse effects of fossil fuel power, pollution concerns and energy security issues, solar power is already a no brainer and many major countries are going the whole hog. Japan, China and USA which are the 3 biggest economies have seen 50-100% growth in solar energy installations in the last couple of years.
Solar energy is already contributing 20-40% of all new energy additions to the grid in the major countries, as coal, natural gas and nuclear power lose out due to their dirty nature, high prices and disaster risks. Wind power is also getting saturated and its prices are not falling as fast as solar energy. One of the main drivers is the use of rooftop solar energy which does not require the use of an electricity transmission and distribution system. Also many developing countries lack electricity grid access to major chunks. This means that they can bypass the fossil fuels to directly give electricity access through solar energy systems. Solar panels have become a commodity and can be quickly installed at low costs in most parts of the world now. The ease of installation, 25 years of fixed costs and its pro-green nature will mean that solar energy will become more and more important in saving mankind from the climate change disaster.
2 Comments
In recent years, Solar PV has grown at very faster rate.in comparison to other renewable sources in the world. Residential rooftop PV has dominant role since it does not require land , huge capital cost and transmission lines, Domestic load is around 33% of total electricity consumption. Rooftop PV is contributed by the masses, creates employment, entrepreneurship and nationality. Emissions can be controlled at large scale by deployment of rooftop solar PV.
Dear Editor:
The natural gas is quite an attractive proposition for energy needs in the western countries for its abundance, low cost and relatively low carbon footprint. With $5.66 cents/1000 cubic feet as of January 2014, the cost comes to 2 Cents/Kwh for industrial users. Economically, it is a no brainer over coal or renewables, and it is the workhorse for the industrial growth in countries like the US where the gas boom is taking firm hold.
Now, one of my good friends, who happens to be a solar energy expert, says the cost of the solar energy in India is the cost of the money (i.e., skyhigh interest rates at 25-30%) as it dominates the material or labor costs. It is this aspect that is pressuring the proliferation of the solar energy in the country where there is plenty of insolency. He laments that it is the country’s own undoing.
PS. You might want to elaborate acronyms, like IPCC, in the future articles to improve readability.