Solar energy

Solar energySolar power generation is the most promising way to provide electrical power for the demands of the humanity. It will be able to replace traditional fossil fuel energy generation in the near future and may even fully dislodge it from the market. This type of energy is available everywhere on the Globe and is free, besides the Sun is more predictable than air masses movements creating winds necessary for wind power generation. .

According to BNEF, 2014 was the first year in the history when US-based electrical companies saw renewable projects as more potentially profitable than fossil ones. Growth rates of both market sectors equated. Sun power production is believed to increase exponentially to the volume of USD5 trillion in the next 20 years.

Sun rays may be transformed into different forms of energy using a number of technologies which constantly improve. The most popular ones are CSP (concentrated or heliothermal) and PV (photovoltaic or photoelectric).

By now there have already been built a large number of solar power plants both CSP and PV. The capacity of PV power plants alone totaled above 50GW around the world in 2015. The price for solar power keeps on lowering while fossil fuel-based electricity will inevitably grow in price. Experts say sun power production will increase from the current 1% to 10% (more than 1,800GW of total capacity) by 2030.

Solar power technologies

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