The method of using the ample solar power to generate electricity isn’t a novel one. A lot of people, residing in areas with lots of sunshine, have utilized this renewable source for providing electricity for operating both industrial and consumer products. Taking into consideration the rising costs of conventional energy, a lot more homes are turning in the direction of solar energy for their needs. And it gets better, as ongoing research has increased hopes that solar energy may become even less expensive within the next couple of years.
Cheaper solar power in five years
With consistent research and enhancements in the solar industry, solar power might get less costly and offered to a lot more consumers in a period of just 5 years. In accordance with a report from Bloomberg.com, Mark.M.Little, global research director of GE announced that the electricity produced by way of solar panels would end up more affordable than energy furnished by fossil fuels or nuclear reactors within the next 5 years. This, he explained, may be feasible with innovations like the efficient thin-film panels that decrease the manufacturers’ costs, even without considering the government subsidies.
GE is also preparing to set up a plant, which would be operational in 2013, in which the thin-film panels will be manufactured. Through producing these thin-film panels and enhancing their effectiveness, the company plans to lower the costs and produce enough panels to produce solar electricity in 80,000 homes. Although powering thousands of more homes with solar energy will be feasible over the next few years, a full transition with a solar smart grid will probably take quite a while, according to Mark Little.
Statistics show falling solar power costs
According to the latest data revealed by the Energy Information Administration, the typical cost per kilowatt-hour of solar powered electricity in 2009 ranged between 6.1 cents in Wyoming to 18.1 cents Connecticut. If the average retail rate is 15 cents or less per kilowatt-hour, most people should be able to afford solar electricity, Little said. With the reduction in cost of solar cells, which make up the wholesale solar panels, the overall cost of solar power has reportedly dropped by a great extent this year. This cost may further reduce should the thicker solar cells, which use a rare and expensive metal called indium, are replaced by the thin-film panels made of glass or metals like cadmium telluride or alloys of copper indium diselenide.
An additional decrease in costs will heighten the use of solar energy and reduce the amount of unsafe gases released by burning fossil fuels, which lead to global warming. Many people, who live in areas where there is ample sunshine all year long, are turning to this renewable energy source for producing electricity to operate their household equipment like water heaters, battery chargers, lights, displays, and even ovens. This not only lets them access the free and endless solar energy for many purposes, reducing their costs in the long run, but also helps them reduce their carbon footprint for resulting in a greener and cleaner environment.
Carrie Haley is considered a reveared author covering eco friendly news across a wide spectrum. He has been with Helios for a long time covering wholesale solar panel manufacturers who sell sustainable forms of energy for people to live with as opposed to coal based solutions.