Why solar power technology attracts the spotlightMay 07, 2016
solar power industry grabs spotlight
It is simple to understand why solar power industry is getting popular. The strongest source of power on the Earth powers it.
When compared to non-renewable sources of energy. It turns out an undoubted winner. But when compared to other renewable sources. Then also the energy from our neighboring star steals the spotlight.
As per the International Energy Association Report. The Solar power industry will be the major energy source by 2050.
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The Sun shines everyday. And it will continue to do so for a lot many eons. But what is it that makes the solar energy so lucrative.
Read further to know.
1. There is no wait time for the power to get better
Technology has got us into the wait and watch syndrome. For every advancement in technology, a better and cheaper sub-feature follows. Sometimes the emerging technology takes few years. Though at times, the advancements may only take 6 months to appear.
But an important element of this data goes unnoticed. The major concentration of technological advancements is on computers and mobiles.
Unlike the technology gadgets. The solar panel industry does not undergo minor changes every now and then.
The solar panels created the biggest breakthrough in the solar power industry. In the current scenario, their price is already close to their production costs. That leaves no further room for a bigger price drop.
En route solar, the major portion of the costs involves solar panels installation. Reputed solar companies involved in solar system integration understand PV systems well. With their experience they can install sturdy rooftop solar power systems. That brings in greatest benefits in the long run.
However, the storage of solar power is one sector that has a scope of improvement. The batteries that are available today are large and cost a lot. They also require a replacement every few years.
If you are in the lookout for a reason to postpone investments in solar energy. Then waiting for the storage batteries are a good enough excuse.
Otherwise, it makes no sense to delay. In fact, you will lose out more in savings by not embracing solar today. The situation is similar to buying property/ insurance/ planting a tree. The sooner the better.
2. Policies to promote solar power industry
Solar power is garnering attention worldwide. To propel it as a revolution, government in every country comes up with schemes.
That means added incentives when you go solar. Apart from the central driven policies of a country. There are various other state policies as well. Depending on the state that you live in. You can make use of the tax credits/ solar incentives to your advantage.
But a word of caution here! To make the most of these incentives. One should not wait long. As the solar power industry consolidates. The initiatives from government may tend to subside.
3. Availability of Finance options
What could be better than installing solar? – Installing it on borrowed money. It gets even better when the borrowed money is in the form of a home loan.
A loan is handy when you consider the opportunity cost to join the solar bandwagon. The loan amount could then adjust with tax benefits.
Loans for rooftop solar solutions integrate with ongoing home loans too. One can take the top-up facility to merge with them.
4. Facilitation of off-grid projects
There are many inhabited regions that do not receive electricity. It is unfortunate that those regions will not see power in the near future too. In such an unfortunate event, diesel generators are the only options available.
But again, those generators are not viable. Their costs are not workable in a financial sense. Moreover, they contribute to the pollution in significant amounts.
That is when solar power comes to the rescue. Solar panels installed on such remote locations generate stand-alone power. Thereby making the rural and disconnected locations independent power generators.
In the recent times, solar industry has powered villages to run off-grid. Ditto for hospitals in remote regions.
5. No carbon emission
Fossil fuels are the major source of electricity generation. Burning of those fuels produces carbon emissions. These emissions hamper the environment.
Shift to solar power technology reduces the damage to the environment . Since panels do not emit any smoke. Their use does not contribute to the damages to nature.
Years down the line, with the accumulated use of solar powered devices. The fossil fuels will burn less.
To ensure clean air, water and earth for the future generations. The future ought to be solar.
6. No sound
No contribution to the noise pollution is a significant feature of solar panels. It is because the generation of electricity through solar PVs lacks a kinetic feature. Thus, it is peaceful to use solar PV for electricity generation.
If you have experienced living around a diesel powered generator. Then you understand this difference for sure. Moreover, the other renewable modes of power create noise too.
The power generation from wind turbines is an example. The greater the wind. Greater the movement of turbines. The speedy movement improves the efficiency of power generation.
But with solar, the situation is an exact opposite. The solar power system design has no moving parts. That is how solar power works without creating a chaotic sound. That sounds like a prayer!
7. Reduction in dependence on nonrenewable fuels and import from OPEC nations
The inventory of fossil fuels on Earth is small. Since they are nonrenewable, it is probable that future generations may miss their usage.
Due to this reason, countries import oil from OPEC nations. This creates a heavy deficit for the importing nations.
But with the gradual shift towards solar. The dependence on the limited fossil fuels as well as the imported fuel reduces.
This brings in a huge reduction in the expenditure budgets of a nation. Not to forget the added benefits for the eco-system alongside.
In Conclusion :
With the world wide emphasis on exploring alternative sources of energy. It is no rocket science to comprehend why solar power industry would rule in coming years.
By going solar, dependence on oil imports reduces. The pressure to save fossil fuels also goes down.
The solar technology provides a ray of hope to places that are away from grid. It lets them explore better means of life without the hassles of fumes and chaos.
The solar solutions provide choice as well as independence to consumers while remaining quite.