The solar energy sector has continued to thrive as an industry within the renewable and sustainable world. This is due to solar energy outpricing fossil fuels in cost and optimizing energy output sustainably. However, there are still many benefits of solar energy that people are unaware of. Have a read of the top 5 solar energy facts, to see why this industry is booming.
99% Decrease in Price
From 1997, the price of panels has massively decreased. Statistics from the Solar Market Insight Report developed through GMT Research and solar energy Industry Association, highlight how initially solar panels cost £61.07 for every watt. It is now 17p. This decrease is due to the increase in module efficiency that has lowered hardware production.
Solar Panel Plants have a lifespan of 40 years or longer
Through regular maintenance and replacing inverters after 10 years, the lifespan of the solar power plant can be prolonged. When the construction of a power plant is carried out a power purchase agreement (PPA) is signed with the customer.
This shows that the solar power plant will last for 25 years. Yet once the correct infrastructure has been selected this power plant can endure for a further decade or two.
Solar Energy is the Quickest-deployed Renewable Energy Source
In a time of crisis, such as hurricanes, it has been previously proven that solar energy is a valuable commodity to supply when unexpected tragedy strikes.
This is due to remote locations being able to maintain small solar power facilities that can be distributed in times of distress. No fossil fuels were able to be imported or deployed as quickly as solar energy was in times of crises.
Due to this, the solar goals to be achieved by 2035 influence the decarbonization of the power industry. This would lead to an increase in solar from 3% to over 40%. To achieve these aims, billions of dollars will be invested into the solar energy sphere. This will aid in the lowering of energy bills, as well as saving consumers thousands on residential solar systems due to the lesser expenses and further investment into solar.
The Worldwide Leader in Solar Energy
China is the most affluent when it comes to solar panels. The Chinese government is leading in this sector due to the government prioritising and funding investment in renewable energies. This is so they can address the issues of their air and water pollution rates.
Statistics show that compared to the USA, which also has had major advancements in solar energy, China completely outdid their solar panel installations. In 6 months, China achieved double the amount America did across the entire year. This shows the Chinese government’s commitment to going solar.
Solar Energy is the Most Abundant Energy Source on Earth
Reports from ‘Solar Energy’ show that every hour the earth receives enough solar energy to fulfil the requirements of a whole year. This highlights how solar is a plentiful energy resource and why it is so efficient.
Solar energy can be gathered in three ways. This includes solar heating and cooling, concentrating solar power, and photovoltaics (PV). PV are the most common solar-powered devices as they produce electricity directly from sunlight. This is achieved through an electronic process.
To learn more about Solar or any of our products get in contact with the Sunvolt team today! We are happy to help.
