Future of Solar PV

Solar PV is going up against some of the biggest industries in the energy market, such as: coal, natural gas, and oil. These industries have been around for quite some time, but the sun is finally setting on their reign, and rising for renewables. The big questions that come to mind are, when and how? Technology and cost aren’t the only things battling against solar PV, politics and economics always play a major role, especially in the energy sector. The good news is that many governments are already employing solar PV as part of their annual agenda. According to the EIA, “The global PV market has experienced vibrant growth for more than a decade with an average annual growth rate of 40%.”This rate will not continue to be this dramatic in the upcoming future; however, it will continue to increase. Receiving global recognition, solar PV continues to attract investors, especially funding from the government. In the United States, the Department of Energy has released plans to facilitate making solar PV more cost competitive against other leading energy sources. Most importantly, countries going through a 21st century industrial revolution, such as China, India, and Brazil, have started campaigns working toward a solar PV growth policy.

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About rspv

I'm a first year student in the MSGA program at New York University. I'm considering focusing on the Energy and the Environment sector. I have a BA in East Asian Lang. & Lit. with a concentration in Mandarin Chinese.
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4 Responses to Future of Solar PV

  1. analyzeows says:

    Very interesting stuff about Solar PV. I see you mention that it goes up against fossil fuels for share of the energy market. How does it compare to other forms of renewable energy in the mark and in energy potential? I am very interested to see how the US market for Solar PV technology will continue to react to record growth in India and China. This technology will be around for a long time so it is good to get some good insight on what is going on, thanks!

    • rspv says:

      Hey analyzeows,
      I just added a new post. It might answer a few of your questions, plus I added an image comparing GHG emissions across several energy industries.
      Hope you enjoy!

  2. gabesshadow says:

    This is indeed very interesting and inspiring news. I am happy to hear that not only is it making an earnest stand to compete with other big energy firms(big oil, natural gas…), but it is also getting support from many governments worldwide, including the developing countries of China and India. “This rate will not continue to be this dramatic in the upcoming future…” With a 40% annual growth rate for the past ten years, I am assuming it is a reversal of government policy to support the continued growth of the Solar PV market? I also really like your most recent post, with the info-graph. Most of the time information politics is used to communicate the “situation on the ground”, as situation that antagonist groups try to keep hidden to the best of their abilities. This is a happy twist on that mechanism. 😀

  3. Margaret Mak says:

    The rise of using solar is definitely great news. With the decreasing prices of solar panels, companies and governments are now finding it more affordable to make the switch, since it helps them save money in the long run. Now that America is slapping tariffs (and considering to even put on more next month) on Chinese solar panels due to accusations of illegal government subsidization of their solar industry, dumping and unethical trade practices, India may be able to compete even more and beat China from being the #1 producer of solar panels (currently, China produces 40% of the world’s solar panels). Today, our finite sources of coal and gas are dwindling, but with technology, our solar panels are getting cheaper and more efficient (I’ve been reading about these new black panels invented by Natcore earlier this month, which absorb over 99% of solar rays as opposed to our usual 96%), thus it it is relieving to see that people are coming to their senses and investing more in solar panels. I think this rising change in demand for solar energy is only inevitable and that it will just keeping increasing.
    Nice piece:))

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