http://money.cnn.com/2013/03/14/news/economy/solar-power/index.html
The solar power industry in the United States showed signs of promise in 2012 despite many consolidations and bankruptcies. Solar Power in the US produced 3.3 gigawatts of energy in 2012, enough to power about 500,000 homes across the country. That is a 76% increase from 2011, showing the immense growth of the industry and is only expected to rise more during 2013. The industry also employs 119,000 US citizens, with many more potential employees in the foreseeable future. The jump in employment and productivity of solar power in 2012 is attributed to the declining price of solar panels, tax incentives, and better financing options. Prices have declined because the price of silicon, a major component in the solar panels, has decreased dramatically. China has made massive investments into silicon to lower the prices. This shows that advancements in clean energy technology are going to need the attention and a consolidated effort from multiple nations. However, because prices fall, less efficient companies are being pushed out of the market. Solar power energy companies are expected to consolidate into the most efficient few in the next decade and although solar energy only makes up 1% of our total energy output, the percentage will definitely grow in the next decade or so when we realize clean energy is our only option.
Very promising to see alternative energy sources gaining popularity and notoriety. More importantly, it's promising to see the output of an alternative energy source growing immensely.
ReplyDeletePrices of energy sources will fluctuate naturally. The most important thing to take from this news is that alternative energy sources have become an integrated part of the American economy.
Solar power along with other sustainable and so called green sources has been on the rise in the United States but it is still far behind that of most Western European countries. The fact that solar energy is starting to play bigger role in the economy is encouraging but it can be argued that it is economically unsound. Clean energy sources require more development and investment than already proven natural resources and the funds for research and development have been provided by the government over the last four years. With that said government has subsidized most of clean energy production, pumping significant amount of money into it. Many argue that in the light of national debt it is economically irresponsible to favor sustainable energy industry that power very small percentage of the country.
ReplyDeleteIt is important that solar energy is booming. Since fossil fuels are finite resources we should expect to run out of them in the oncoming future. With governments providing subsidies to put up solar panels on houses I believe this industry will continue to boom. This renewable source of energy is clean as well as productive.
ReplyDeleteI have to agree with Nazar though. Clean energy sources have proved to be risky forms of investment. Much research is needed and it requires much development that has proved to be beneficial.
Overall it is exciting to see a renewable source of energy catching on. I believe it will be useful in years to come. As fracking and other methods of extracting oils become more controversial I believe solar energy will come out as a winner.
The problem with green and renewable energy is the promoters always talk about potential rather than real actual energy produced. This is what got the European governments to jump in on solar energy. Well, the sad reality is many of the European governments had to increase the subsidies to keep green and renewable energy afloat until it was no longer sustainable because the governments were struggling. The real question is can we keep the success of the solar energy going or can we find another cheaper solution.
ReplyDeleteIt is promising to see that we are trying to find a cleaner renewable energy though.