By the end of the decade, the solar industry will install 135 gigawatts of PV projects all over the world. It's a staggering number. It took the industry four decades to reach 100 gigawatts of cumulative capacity globally. In 2020, the world will see more than that installed in a single year.
10 Facts About the Explosive Growth Expected for the Global Solar Market : Greentech Media
That's an incredible pace for cost reductions considering the fact that solar energy is now competitive with the grid in all three segments. SolarCity (NASDAQ: SCTY ) and Vivint Solar (NYSE: VSLR ) can sell residential system leases or power purchase agreements for less than the cost of electricity to a home, even for small solar projects. Meanwhile on large solar projects, companies like First Solar (NASDAQ: FSLR ) , SunPower (NASDAQ: SPWR ) , and SunEdison (NYSE: SUNE ) are winning projects based on the cost of the electricity they're selling, not mandates that used to drive solar installations.
Watch Out Fossil Fuels: Costs Continue to Drop for Solar Energy
Japan, China, India, Europe and the U.S. have research programs to harvest solar energy from space. Following the Fukushima Daiichi nuclear plant accident, Japan conducted a review of all its available energy options. In 2014, the Japanese Aerospace Exploration Agency (JAXA), considered the global leader of space-based solar systems, presented a 25-year development roadmap of ground and orbital demonstrations that culminates in the 2030s with a 1GW commercial system. This output is similar to typical nuclear power plant.
Solar Space Race Already Underway | OilPrice.com
U.S. researchers are reporting breakthroughs in artificial photosynthesis that could result in a new source of renewable liquid fuels for cars, ships and planes. Renewable liquid fuels would be a welcome alternative to electricity for powering vehicles, because batteries are heavier than fuel and take up more space, which can work for cars but makes them impractical for planes or ships. Artificial photosynthesis seeks to mimic the action of plants in capturing energy from the sun to produce biomass by breaking down water and combining it with carbon dioxide.
Could This Renewable Fuel Kill The EV Market In One Fell Swoop? | OilPrice.com