Solartechnology is not new it has been in existence since the 7thcentury B.C. (US Department of Energy 1). Solar energy is perceivablein terms of the energy generated by the sun being converted toelectricity or being used to heat the air, water or other fluids(AUSTRALIAN ENERGY RESOURCE ASSESSMENT 262). The global solarresources have not been utilized effectively to date. Solar energyonly occupies a small portion of the global energy consumption.However, the use of solar energy is projected to go up significantlyin the near future. Studies reveal that the measure of solar energyon the global land area exceeds the total demand for energy in theworld by far. However, the high capital cost impedes large-scalesolar power generation. The yearly solar resource varies depending onfactors such as proximity to the equator and atmospheric effects suchas cloud cover. Some quarters are concerning themselves with issuescentering on costs and doubts over the efficacy of solar energy.Nevertheless, the growth of solar energy and its potential isadvancing relatively fast (International Energy Agency 23). Alleconomies stand to benefit from the knowledge of the potential ofsolar energy. Today, solar energy has grown into one of the mostreliable forms of alternative energy because the sun provides aconsistent and unlimited energy source, solar technology isrelatively advanced, and it is more affordable compared to othersources of energy.

Theprimary source of green, abundant energy is the sun (Nault 3). Thesun deposits 120,000 TW of radiation on the earth’s surface, whichexceeds the needs of humans by far. However, the vicissitudes of thesun, for example, during cloudy days, limit the potential of solarpanels (THE WALL STREET JOURNAL). Innovations for the improvement ofthe efficiency of solar panels, however, may soon lead to betterresults. Nevertheless, research reveals that even scenarios thatdemand a lot of energy cannot exhaust such a huge amount of energy( Industries Association). Essentially, the sun drivesthe circulation of ocean currents and global wind, the sequence ofevaporation and condensation that produces rivers and lakes, and theorganic phases of photosynthesis and life (Nault 3). Covering 0.16%of earth’s surface with efficient solar conversion systems wouldhelp produce 20 TW of power, which is approximately two times theconsumption degree of fossil energy or the equivalent of 20,000 1-GW,nuclear fusion plants. These comparisons bring to bear the remarkablescale of the solar resource, providing a power stream that is farmore potent than any human technology human technology can achieve.Considering the factors mentioned beforehand it is prudent to gaininsights into the level of advancement of solar energy.

Solartechnology is relatively advanced (International Energy Agency 23).Solar technology has been in existence since the 7thcentury B.C. (US Department of Energy 1). Thus, the technology hasbeen growing through this period to date, although at a very slowrate due to the lack of both public and private sector support(International Energy Agency 23). Studies reveal that solar energywill reach large scale competitiveness in less than a decade. Theubiquity and sustainability of solar energy advance it as one of themost secure renewable sources of energy (THE WALL STREET JOURNAL).Also, it is friendlier to the environment solar can drasticallybring down the levels of pollution. Considering the before-mentioned,solar is ideally positioned to leverage gains in other sectors. Solarhas the capacity take advantage of improvement in materials,nanotechnology, and computing in ways that other technologies cannot.For example, rooftop installations in regions such as California tomicro-grid and off-grid energy in developing countries whereinfrastructure is not very advanced. The presence of moderate-sizedmarkets is also critical to scaling solar technology and bringing theassociated costs with the implementation of solar technology down. Ashas been discussed, solar energy is relatively advanced thus,considering the affordability of this type of technology is prudent.

Solartechnology advances a more affordable source of energy when comparedto other sources of energy (National Renewable Energy Laboratory 1).The increasing cost of environmental concerns and energy prices aremaking solar energy more attractive to homeowners. Reason being,solar electric systems reduce the costs of energy and keep homesrunning even during power outages. The main benefits of purchasingsolar electric systems include saving significant amounts of money onelectricity bills, clean, reliable and free power for up to 25 years,increasing the appraisal value of one`s home and helping create moreemployment opportunities by supporting new solar companies. Also, thecost of developing polysilicon-based solar panels has depreciatedsignificantly over the past years ( IndustriesAssociation). Consequently, the solar industry has scaled upmanufacturing significantly, in addition to the realization ofsignificant improvements in solar technology. Also, installationcosts have dropped profoundly due to an increase in trained andexperienced PV installers. In some regions around the world, solartechnology is gradually beginning to emerge as a competitor on pricewith mainstream power (Grover 1). In essence, solar panel electricitysystems use photovalic cells to capture the energy of the sun.Ordinarily, these cells do not need direct sunlight to function.Thus, they can still generate electricity on a cloudy day, which canbe used to run household lighting and appliances. Solar panels alsorequire little maintenance and can last up to 25 years of more(Energy Saving Trust). Also, once installed, solar power deliversclean, reliable and free energy to a household for approximately 25years. Solar energy can be considered unlimited, relatively advanced,and more affordable as the summary in the following section reveals.

Inthe present day, solar energy is perceived as having grown into oneof the most reliable forms of alternative energy. Reason being, thesun provides a consistent and unlimited energy source, solartechnology is relatively advanced, and it is more affordable comparedto other sources of energy. Solar technology is not new it has beenin existence since the 7th century B.C. Nevertheless, slow progressin the solar industry has resulted in inadequacies regarding theutilization of global solar resources. Solar energy only occupies asmall portion of the global energy consumption. However, the use ofsolar energy is projected to go up significantly in the near future.Studies reveal that the measure of solar energy on the global landarea exceeds, by far, the total demand for energy in the world.However, the high capital cost impedes large-scale solar energyproduction. The next few years could see solar power develop into asignificant energy source. All economies stand to benefit fromknowledge the potential of solar energy, as discusses above.


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