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Solar Energy, a Growing Industry

According to Sunpower, within the span of 20 years, the industry of solar energy will turn into a $5 trillion dollar industry. Sunpower is the largest PV in the world. This is a bold statement by them to make. Yet with all the recent growth of this industry, this might prove to be true. As solar energy industry already has taken its place among the largest energy producers worldwide.

In 2014, 1% of the world’s total electricity consumption is already being provided by solar energy. It was also in the year 2014; Asia installed half of the world deployment of solar energy. In the U.S.A, this industry employed at least 170,000 people. By the last year alone, 16 gigawatts of solar energy have been installed in the United States of America alone. This doubled the installation of solar energy of 2015, which was 7.3 gigawatts. It made possible for 37 million tons of reduction in carbon emission annually. For this year, the experts expect another growth in the industry, and even for the next year.

It is clear that the solar energy industry is already competing with the larger energy producing industries. It seems to be that this industry has nowhere else to go but up. With more and more of price hikes from other energy producing industries, and solar energy being free when harnessed, people will tend to make the choice of choosing solar energy. Also improvement and solutions to the problems commonly faced by harnessing energy are being given, making more people fascinated to try harnessing solar energy Perth themselves.

It is anticipated that sooner or later, solar energy would become the main source of energy. In the next 20 years or so, it is said to be supplying at least 10% of the total electricity consumption. And by 2050, it will surpass other energy producing industry, and become the largest source of our energy. The growth in solar energy industry is said to be rather exponential. Solar energy industry is growing, fast, so it is no longer seen as a kid in the energy industry. Clearly, money is out there for this industry.

Only the passage of time will tell us if these predictions will ever come true. No matter how bold they seem to be, still we hope that solar energy will soon be used worldwide. Not only for the solar industry itself, but also for the next generation. As they are the ones that will walk this earth and reap the benefits of the solar energy. But as for the industry’ growth, we can all say for now, “Here comes the sun.”