The solar power showed a drastic increase in the past few years that has made the International Renewable Energy Commission to frame its growth rate in coming 5 years. The reports show that it will grow more than by 43% or 1,000 Gigawatts by the year 2022. The reduction in the cost of the solar panels and the lower carbon forms will help in the wide usage of the renewable energy. According to reports, the solar power sector has witnessed a rise of more than 12% this year. It will get a boost of nearly 165 GW in the current year.
The Growth Nature of Solar Power
Solar power has set to outpace all other fuels in the present year with its rising demand and a huge amount of investments. Most of the renowned companies have joined hands and invested in the solar power projects across the globe. India stands amongst the other developed nations across the globe that is working to generate more solar power.
According to the survey, India, USA, and China solar power will outpace all other fuels, and their global renewable expansion will be two-thirds by the year 2022. This is perhaps the total solar capacity of Japan and India at present. The renewable energy is reported to increase by 1,000 GW that accounts for the present capacity of the coal that formed within past 80 years. The countries like China, India, Japan, USA accounts for half of the expansion of the solar energy in their respective countries.
Source of Clean Power
Solar energy is the fastest-growing sector as it is one of the cleanest forms of energy. This is available in abundance in India and other developed countries. The country like China is developing the solar panels and providing them at cheaper rates. This has further increased the installation of the Photovoltaic cells that help in the usage of the solar energy largely.
Many countries across the globe have accepted this “New Era” of solar energy that helps in curbing the growing fossil-fuel usage. Here are some of the important points related to solar-energy usage.
- The concerns regarding pollution can be sorted out with the help of the solar energy.
- It is becoming the newer source of electricity generation. Most of the automobile companies as Tesla are designing ways to get the solar power enabled vehicles on the road in the coming future.
- The solar energy along with the wind energy forms the 60% of the power generation for the developed and rising countries.
- The possibilities of solar energy jumping to nearly 7.3% are going to be witnessed in the year 2018.
To conclude, solar energy has brought a revolution in the power-generation industry with its wide usage. The solar capacity is increasing as it is found in abundance, and it can be stored for daily use when the sun is not shining. With the low production cost of solar PVs, the people are able to afford them in many countries.