Shell sees bright future ahead for solar energyMarch 7, 2013
Solar energy may have the potential to change the world
Solar energy has managed to win over many consumers, companies, and governments around the world. Because of the abundance of sunlight much of the world experiences, as well as the fact that the sun will continue to exist well into the future, solar energy has become one of the most ideal forms of renewable power. The prospects of solar energy are such that even companies that have traditionally been focused exclusively on fossil-fuels are beginning to show support. This is the case with Shell, which has very high hopes for solar energy in the future.
Shell retains strong interest in solar power
Shell had once been working to establish itself as a world leader in the production of solar panels. In 2006, the company dropped out of the solar module race, pursuing other avenues in terms of renewable energy and business. Despite removing itself from the production market, Shell has retained a strong interest in solar energy. The company has released two future energy scenarios that suggest that solar energy could have a major, if not all encompassing, role to play in the future.
New scenarios predict the future of solar
According to one of Shell’s New Lens Scenarios, solar energy is on track to become the world’s number one source of power. The scenario suggests that by 2070, solar energy will eclipse all other forms of power, including oil, coal, and nuclear. The scenario highlights the growth that the solar industry has seen over the past decade. In 2000, the total installed capacity of solar energy around the world was roughly 1 gigawatt. By 2012, that capacity reached more than 102 gigawatts. While this capacity accounts for only a fraction of the world’s energy demand, the rate of growth solar energy has experienced over the past decade is significantly higher than that seen in other forms of energy.
Solar may reduce emissions to zero
Shell does not foresee the momentum behind solar energy waning any time soon. New markets are emerging for the solar industry, which hold vast potential in terms of renewable and sustainable electrical power. Shell notes that the growing prevalence of solar energy is likely to cause a severe drop in carbon dioxide emissions, claiming that emissions will reach zero by 2100. Eradicating emissions may be one of the most attractive features of renewable energy in the future.