Solar Investments

Sun is a great source of energy. It is believed that the amount of energy absorbed by the earth in one hour can fulfill a year’s energy needs of the world. The only problem is to tap it properly. Solar energy is tapped in two ways: Solar Power Plant or by using PV or Photovoltaic Cells, also known as Solar Cells. In solar power plant, the solar radiations are deflected using mirrors into a small space, say a pipe filled with a fluid. The rise in temperature of the fluid can be then used to boil water and produce steam for conventional generator.

Technology in the field of solar energy is advancing at a rapid rate. In 2007, the total installed capacity of photovoltaic devices was 8.7 GW. Solar cell production increased by 50% that year to 3,800 megawatts, and has been doubling every two years. The cost of solar energy, which has gone down 71% since 1980, will continue to drop as demand increases and more production capability becomes available. Additionally, conversion efficiency of silicon cells has increased from 4% in 1982 to over 20% for the latest technologies.

The solar energy can be cleanly converted into electricity, at the place of consumption itself. It is a cheaper source of electricity and can be generated during the peak hours when the other forms of electricity generation appear costly. Solar power investments are increasing everyday, owing to its easy and efficient usage.