Solar energy may be a disruptive force for the fossil-fuel sectorSeptember 25, 2015
Solar power is growing in strength
Solar energy may become a disruptive force in the overall energy industry. Throughout the United States, support for solar power has been growing aggressively. Consumer advocacy groups and environmental activists have been focused on promoting the benefits of solar power over more conventional forms of energy, suggesting that solar may be the best way to fight climate change and build a sustainable future. With the cost of solar energy continuing to fall, this may very well be the case.
Green Technologies highlights the economic potential of solar energy
Green Technologies, a solar energy company based in Florida, notes that solar power is economically feasible as it is right now. The technology behind solar power is becoming less expensive and more efficient, and new technological advances may not be needed to ensure that this form of energy can compete with fossil-fuels in terms of cost and effectiveness. Green Technologies executive Matt Chentnik built a solar powered home 10 years ago and noted that the same project would cost 90% less today than it did a decade earlier.
Other countries have seen major growth in the solar power sector
The United States is not the only country that is expected to see significant growth in the solar energy sector. Last year, Germany produced no less than 74% of its electrical power from solar and other forms of renewable energy. Within five years, Germany is expected to become home to the world’s first energy grid that is completely powered by renewable sources. Earlier this year, Saudi Arabia King Salman bin Abdulaziz Al Saud claimed that Saudi Arabia would be out of the oil business by 2050, focusing exclusively on solar energy and other forms of clean power.
Homeowners show particularly high interest in solar energy
Solar energy has become particularly popular among homeowners. In the United States, the residential sector has lead to a major increase in solar power capacity throughout the country. Homeowners are showing interest in solar energy because it is becoming more inexpensive and provides consumers with a way to become more environmentally friendly.