Published By : 29 Sep 2015 | Published By : QYRESEARCH
The global renewable energy market is growing rapidly. Progress can be seen in several sectors of the global renewable energy market such as wind, solar, hydro, biomass, tide, and geothermal. However, one sector that is experiencing the highest number of innovations is the solar sector. The importance of solar energy is growing. Furthermore, organizations are coming up with different ways to increase the efficiency of solar energy and implement solar energy technologies on a grand scale.
The rising efficiencies in the solar sector, decreasing solar energy rates, growing number of innovations, and improving energy infrastructure in several nations will fuel the growth of the global solar sector. Another trend that is projected to propel the solar energy industry is the development of energy storage batteries. Although all these factors are strengthening the global solar energy industry, there are more studies that are supporting why solar energy has the most potential to meet the energy needs in the long run.
Renewable energies are the answer to issues such as economic growth, decreasing poverty, reducing global warming, and they are also an abundant source of clean, renewable power. However, how does solar energy stand superior among other forms of renewable energies? A group of scientists based in Max Planck Institute for Biogeochemistry in Germany evaluated several energy sources to check their potential to meet human’s long term needs, and solar energy emerged as the winner.
According to the study, solar power can offer around 100 times more clean energy as compared to its other renewable energy counterparts. The scientists at this German institute also found that the indirect method of collecting solar energy (burning organic matter such as coal) is the most wasteful, while the direct approach of collecting sun’s light by using solar technology works the best. By deploying satellite data, scientists estimated that the maximum amount of solar energy extracted over land can be 16,300 terawatts. This is around 1000 times higher than current energy usage