Solar energy holds vast potential in energy marketJune 1, 2013
Solar energy continues to see progress around the world
Solar energy has managed to establish itself as a promising market in the U.S. Companies investing in solar energy have seen strong growth over the years, especially as the federal government begins to show more support for renewable energy as a whole. The progress that solar energy is making is not restricted to the U.S., of course, as the energy has also been seeing promising growth in Europe, China, and other parts of the world. The full potential of the solar energy market has yet to be reached, however, according to SunPower, a solar energy specialist.
SunPower sheds some light on the solar sector
SunPower recently hosted an all-day analysis briefing concerning the solar energy market. This was the first analysis briefing the company had held for years, which managed to generate some hype concerning the company’s stance on the market and the trends that are influencing it. The company noted during its briefing that the advent of renewable energy had seen some opposition from traditional energy utilities that have interests in remaining connected to fossil-fuels. Despite this opposition, however, solar energy has managed to grow exponentially over the past few years.
Solar barely scratches the surface of $2.2 trillion market
While solar energy has seen growth, the world has only begun to scratch the surface of the market. According to SunPower, solar energy itself has only begun to scratch the surface of a global energy market that is worth more than $2.2 trillion annually. The company noted that much of the growth that solar energy had seen recently was spurred by government support, but businesses and consumers had been growing more interested in this form of power and were beginning to adopt solar energy without outside assistance.
Solar energy expected to continuing growing more affordable
SunPower believes that the costs associated with solar energy will continue to fall over the next few years as more efficient technologies are introduced to the market. This will make adoption of renewable energy easier for a wider demographic. High costs are often considered to be one of the most problematic issues facing renewable energy adoption and have served to keep consumers away from solar energy and other forms of clean power for some time.