According to the electricity forecast prepared by the
International Energy Agency (IEA), by the year 2022, the capacity for renewable
electricity will increase by 43 percent, grow by over 920GW. New energy startups are also emerging on a daily
basis. With various energy projects in place, the generation and implementation
of solar power have already increased significantly in the last year.
There
are two types of solar technologies usually used: concentrated solar power
(CSP) and photovoltaics (PV). PV solar technology uses sunlight to generate
electricity whereas CSP uses the heat of the sun to generate thermal energy
that heaters and turbine can utilize.
Here are some of the solar power trends to watch out for this
year:
1. Solar power energy costs will further decrease
Customers are now more attracted to solar energy because now
they can get this technology at affordable rates. Since the year 2009, prices
for PV solar technology have decreased 62 percent and these price reductions
will continue in this year. With increasing competition, companies have to
reduce their prices in order to stay in the market
2. The
capacity for global solar power will increase
in 2019, the capacity for global solar energy is expected to
increase further by 107 GW. Several companies are also incorporating the use of
the internet of things (IoT) in solar energy usage in order to mitigate any
risks
3.
Companies will increase the use of solar power
Various
companies around the globe already have implementation targets for solar power
in order to perform better in the market.U.S. businesses are also investing in
solar power to keep the environment safe and clean, especially for future
generations. Apple’s new facility in California uses clean energy to keep the
nearby communities free from pollution.
4. Solar
power energy will produce more jobs
According to the International Renewable Energy Agency
(IREA), the renewable power sector employs around 9.8 million employees
globally each year. Jobs like technicians for the wind turbines, PV
installation experts, and solar power professionals are already in high demand.
Currently, companies are in need of professionals in the sector
5. The
competition for energy storage will increase
Countries
like China, Sweden, Poland, the UK, and Germany are putting money into energy
storing technologies to enhance their productivity.Tesla is one company that
has invested heavily in this technology. It is set to complete its lithium
battery factory, which is set to be the world’s largest battery factory.
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