Why Solar Power is the Future of Energy ?

As we know, the main factor of global warming is the increase of carbon emission, the average temperature of Earth has increased by 1℃ in the 20th Century. Maybe you think 1℃ is small, but the slight temperature variation in Earth would lead to huge environmental variation, including longer drought, more frequent prairie fire and more severe tropical storm. Solar power doesn’t have carbon emission during power generating, in order to keep Earth from global warming, the carbon emission should get controlled. Namely, renewable and cleaning energy should get greatly exploited in future, so far, solar power is the most promising renewable energy.
Why solar power is the future of energy ? Now let us explain for you.

Current Cost of Solar Power Generation
Currently, the main factor that solar power generation still doesn’t get large-scale implementing is the high investment cost. United States’ government is greatly facilitating solar power, among electric power, just 0.45% of electric power is from solar PV generation, which indicates its high cost. Whereas, according to Fraunhofer’s research for solar PV system, solar power is possible to become one of the most cost-effectiveness energies. To adopt current most advanced technology, the cost of solar power generation is cheaper than the exploitation of coal carbon or natural gas in some sufficient sunlight areas. For example, recently, a long term contract which is to purchase solar PV generation was signed in Dubai, each one Kilowatts hour is US$0.05. The similar schemes are operating in Uruguay and Brail, their generation cost is less US$0.07/KWH. Similarly, Germany’s nuclear power station is less US$0.11/KWH, while the large-scale solar power generation station is US$0.09/KWH.

The Cost Forecast of Solar Power Generation in Future
Why solar power is the future of energy ? That is because of low cost. According to Fraunhofer’s study, the cost of solar power would become very cheap before long, which is opposite with the electric cost increase from fossil fuel. For example, Up to 2025, the cost of solar power would decrease to US$0.04/KWH~US$0.06/KWH in the middle and South of Europe. Up to 2050, the cost of solar power is just US$0.02/KWH~US$0.04/KWH, which would become the cheapest electric source, it can be applied for areas where have sufficient sunlight in the world.

Common Misunderstanding to Solar Power
A common misunderstanding is that the cost of hardware has blocked the wide application of solar power. In fact, As the improvement of technology in China, the cost of solar panel has dramatically drop. With the expansive scale economy, the cost of solar panel and other hardware would get further decreased.

Most of people has overlooked entrepreneurial opportunities and government’s support for tax reduction that solar industry brought, which would lead more capital to be used for technology research and development. Large tax deduction and discount have most extended to reduce the upfront cost of solar power. At the same time, the newly solar industry has created hundreds of employment opportunities, to support economic development. In fact, according to Solar Energy Foundation’s estimate, the employment opportunities from solar industry is nearly faster than United States’ economic growth by 20 times.

The Development Speed of Solar Power in Future
Why solar power is the future of energy ? That is because of its fast speed of development. Since 1954 when Bell Laboratory invented the first solar cell, this cleaning energy is labeled by high price, but the fast technological development would make human be amazed. Recently, A finance and economy published a research report, in the future of 10 years, the cost of wind energy would be in the first to decrease, up to 2030, solar power would surpass other renewable technology, to be the cheapest energy.

In future, fossil fuel would be gradually replaced by solar power, the renewable generation is coming. As a branch of solar PV industry, solar lighting would also get great development under the pushing of cleaning energy.

Bingsolar Power,   1th, August, 2018