The source of solar energy is free, and for the time being its supplies are unlimited. Well, at least until the next apocalypse. The last one was announced in 2009. When is the next one scheduled, anyone knows? Ok, moving on: each year, the planet absorbs 3,850,000 Exajoules of sun energy. It is 10,500 EJ every day. Have you ever heard people saying that we consume too much energy. It can be true but compared to the might of the solar energy, our consumption is peanuts.
The total heat/electricity consumption of the human beings amount to meagre 440 EJ per year. It is almost exactly as much as the solar energy that the planet absorbs in one hour.
Although the effect of solar radiation being able to generate current was observed in 1839, it wasn’t until the 1970s that an economically viable solar cell was created and it wasn’t until the 2000s that the man could be bothered to start thinking about harnessing the free solar energy.
One of the most acclaimed solar cell application was the one installed on the roof of the White House in 1971 by president Carter. If you look at the White House satellite pictures now, you won’t see any photovoltaic systems on its roof. Whatever happened to them?
From the investor point of view, it’s probably the best moment to start investing in renewable energy. In 2012 the solar energy market of Europe was worth $1.3 billion. I agree, it is not much for an industry. However, by 2018 the same market will be worth $3 billion – and that’s a conservative estimate. The amount of solar cells installed doubles almost every two years but the retail price has gone down by 75% in the last 30 years.
With the retail prices going further down and the feed-in tariffs introduced in many countries, it doesn’t take much to spot the opportunity here. Have you thought about investing in the new green technologies? The first commercially produced photovoltaic systems had just 4% efficiency. Today it is over 20% although theoretically more than 40% is achievable. If any company now announced retail sales of a 40% efficient solar cell, its share value would go through the roof.
Are you suggesting any particular company? What if I invest in shares and then the prediction never comes true? Good one by the way. I had no idea the sun had so much juice.
Great info, I also didn’t know the sun had so much juice. I bet we will see 40% efficiency real soon.
I recently wrote an article about Green Mortgages and how they help the consumer afford these types of technologies.
Houston TX Mortgage
Solar cells these days are not yet very efficient in generating electricity.
Says who? Quite a dumb comment, to be honest. A southern slope of a family house’s roof can potentially generate enough electricity for the family (definitely in Spain and maybe/almost in the UK) depending on your consumption and appliances you use…