Solar power has been the most promising renewable energy source since the late 1980s. And now, it is one of the top three sources of power or electricity generation. Globally, in 2022, the total electricity produced from solar energy accounts for ~60 terawatt-hours.
That’s indeed huge! But why are countries going behind this solar power? Why are companies heftily investing in solar energy? Here are the most important reasons for what makes solar energy popular!
Five Reasons Why Solar Energy is Popular
- Abundant energy source
Did you know? One hour of energy from the sun that falls on the earth is more than the amount required for the entire world’s consumption in a year. Plus, such an abundant energy source comes for free from mother nature. So, isn’t this inexhaustible energy a great source for commercial power generation? Ofcourse, YES!
- Advanced technologies
Solar Photovoltaic (PV) cell technology helps convert sunlight into electric energy. Passive solar technology captures sunlight and produces heat. Similarly, solar water heating technology captures sunlight and heats the water. In all these cases, the same sunlight is used to generate heat and electricity. It paves the way for a diversified portfolio of applications in real-time.
- Monetary benefits
True that the installation of solar power plants or technologies are quite expensive. However, every government has taken corrective measures to popularize the installation. So, beneficiaries can make use of such incentives from the government. Moreover, the installation costs at present are way too less than in the early 2000s. Approximately, the installation cost for a solar panel today equals ~$3 a watt.
There are two other perspectives here!
- One: The low maintenance costs of these solar power generation or heating units.
- Two: The low electricity bills (conventional grid power).
Hence, solar energy systems are the best source of energy. And a great choice for long-term investment. On average, you can reap the capital in at least five years of installation. For example, explore the economics of a photovoltaic (PV) project here!
- Environment friendly
At present, the major source of energy generation is non-renewable energy sources like coal, petroleum, and fossil fuels. Anyways they are limited and perishable sooner or later. But, solar energy isn’t limited.
On the other hand, the process of collecting fossil fuel is not green as it liberates greenhouse gases into the atmosphere. Also, they involve releasing contaminated water that causes water pollution. Whereas, the collection of solar energy doesn’t cause such liberation of greenhouse gases or polluted water.
Lately, the world has experienced increased global warming and ozone depletion levels. Thereby, countries have already made their move. And began shifting to renewable energy sources from non-renewable fossil fuels.
(the year 2022 had the 5th most-warmest year as per NASA records)
- Commercially viable
As mentioned above, today, solar energy systems are highly upgraded in terms of technology, installation, and power generation efficiency. Thus, they can demonstrate more energy conversion percentages than an ordinary energy system. This is one of the major reasons why solar power is becoming popular in terms of commercialization.
Companies in the power generation sphere have begun making use of this promising renewable energy source. And have started producing electricity on a larger scale to support the city by connecting to the conventional grid supplies.
Other Reasons That Make Solar Energy Popular
- Provides jobs support
When more businesses start utilizing this solar power (either for their use or producing electricity for the grids), more people get employed to operate, maintain and supervise the solar energy systems.
- Reduces dependency on the grid
Conventional grid power is becoming expensive and short in supply these days. With solar energy, you can reduce your dependency on them. And start generating power for yourself at home.