In the modern era, renewable energy sources such as solar energy are becoming increasingly popular. Many industries, firms, and facilities around the world prefer using solar energy. It has created an all-time boom over the last few years. While there are some drawbacks to using solar energy on a mass scale, solar energy has changed the way of life for numerous people.
Numerous factors have contributed to the boom of solar energy. Many surveys find a variety of reasons explaining the increasing interest in using solar energy. The main influencing factors behind it remain both environmental and financial factors.
According to the International Energy Agency, it is predicted that global solar energy generation will reach 550 terawatt-hours by the year 2030. However, that number was already exceeded by the year 2018. So, it is undeniable that solar energy is booming rapidly across the world.
Why Is Solar Energy Booming So Fast?
Solar energy is often termed clean energy because it represents a clean energy source. It is one of the most popular forms of renewable energy. Almost as soon as it has been introduced to the masses, interest in circulating this energy source has spread widely. It is important to understand what forces are contributing to the exponential growth of solar energy.
One of the major influences behind the widespread popularity of solar energy is environmental sustainability. The resources around us are finite in comparison to the increasing demand for it. The increasing carbon footprint is threatening for all of us.
Not only that, the high risk of global warming and climate change in the destruction of the environment and wildlife around us has significantly made solar energy an optimal alternative. Solar energy proves to be the best option for mitigating this risk.
Another major driving force behind the increasing popularity of solar energy is the falling costs of using it. According to studies, since 2010 the cost of solar photovoltaic energy has been reduced by up to 85%. This renewable energy source is also cost-competitive with fossil fuel electricity. So, the financial advantage of using solar energy majorly contributes to its boom.
The government’s support and policies aligning with the use of environmental sustainability tools have driven homeowners, businessmen, and industrialists to opt for solar energy. It has lower production and maintenance costs.
So, it contributes to a lower energy bill for the users. Moreover, homes, businesses, or facilities with solar panels gain high attraction and appreciation. It is safe to say that all these elements will only increase the popularity of solar energy.
The Future Of Solar Energy
Solar energy is currently overwhelming in popularity. It is expected that solar energy will become the primary, dominant source of electricity in the future. According to experts, it is predicted that solar energy will be the largest source of electricity in the world by the year 2050.
The International Energy Agency says that solar PV systems can produce as much as 16 percent of the entire world’s electricity. As a result, the global annual carbon-di-oxide emissions will be reduced by approximately 6 billion tons by the year 2050. This shows how impactful the use of solar energy on a wide scale is for the protection of the environment.
All these studies and reports point towards one direction, that is- the wide scale use of solar energy in every industry, organization, and facility. So, it is safe to say that the future of solar energy is strong. The increasing popularity and boom of solar energy will keep on growing. Therefore, more and more people should start to practice the use of solar energy.
The current popularity of solar energy among the general public combined with the increasing government incentives makes solar energy a great source of renewable energy. In conclusion, the solar energy boom will prove to be highly beneficial for environmental sustainability.