Until recently, the driving market force for the adoption of solar energy was simple. In order for the global environment to sustain life, greater reliance must be placed on clean and renewable energy sources. Although it is one million kilometres away, the sun provides the most abundant and inexhaustible energy resource on earth.
Today, solar markets are powered by an additional factor, a steep growth in consumer interest and heightened demand. The financial forecasts predict that the commercial solar photovoltaic market will only continue to grow. That is not to say, however, that the environment does not remain a prime factor in the expansion of the market.
How Green is Solar Power?
According to Wintergreen Research, the global demands for energy are expected to double in the next thirty years due to increased power usage in developing countries. As such, energy creation and consumption have become key environmental issues.
The act of using solar energy does not in-and-of itself cause air or water pollution. By comparison, the United States Environmental Protection Agency (EPA) claims that fifty-nine percent of certain climate change causing chemicals in the air within the U.S. comes from coal power plants. However, that is not to say that the creation of solar powered chargers does not have an environmental cost.
EcoGeek.com estimates that the average solar panel expels five times more energy than is put into their production. This is because the amount of energy used in the creation of the solar panels and solar powered products is quite high. Despite significant technological advancements, materials used to make solar photovoltaic panels are energy intensive. However, once a solar powered panel has been produced, it is expected to last for approximately 30 years. Over the time of the panel's use, there are no additional environmental costs.
The Growing Demand of Solar Energy
Solar power is increasingly meeting the world’s energy supply needs. Wintergreen Research found that over the next five years the market for solar power will see twelve percent growth. While much of this represents the use of solar energy for commercial purposes, changes in individual energy consumption is factored in as well.
The commercial and individual demand for solar powered options is most progressively expanding into multiple markets. Some examples are: solar powered battery chargers, water heaters, home heating systems, and are increasingly in demand on transportation vehicles such as boats and cars.
The one main restriction to using solar power is the obvious prerequisite for sunlight. However, the technological advancements have meant that the energy harnessed can be contained within the solar panels for up to one year.
Resources:
- Alternative Energy News. (accessed 5 May 2010)
- Eco-Geek. (accessed 3 May 2010)
- Wintergreen Research. “The Enterprise Goes Green: Worldwide Commercial Solar Panel Market Shares, Strategies, and Forecasts 2008 to 2014” September 3, 2008.
Brooke Cromar - Brooke Cromar has over a decade of experience working on green issues and environmental politics. Her knowledge and skills have been ...
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