The UK has been making a great deal of headway in regards to sustainable and environmentally friendly power solutions in recent times. Thanks to governmental subsidies and the efforts of such companies as Econergy, it is expected that the shift away from fossil fuels (and the reliance upon oil-producing nations) will drop dramatically within the next twenty years. Of particular interest is the amount of energy that can be generated through solar panel. A recent study suggests that figures are much higher than originally thought.
More Than Nuclear?
According to the latest statistics, it has been shown that by the year 2030, solar power could generate as much as sixty gigawatts of electricity per year. In turn, this may lead to the creation of approximately fifty thousand new jobs while adding nearly twenty-six billion pounds to the British economy. What is of even greater interest is that as solar power is becoming much cheaper to produce, it could become a cost-effective alternative to gas and the majority of fossil fuels in only a few years. Within a mere decade, prices for this power may also fall below the current rates charged for wholesale electricity. The end result will be massive savings for households throughout the country; an obvious benefit from the point of view of the taxpayer. As many now see solar power as being a viable alternative to nuclear energy, one must wonder how large of a market is still waiting to be tapped.
The Road Ahead
While these facts and figures indeed sound appealing, it is also critical to recognise that implementing large-scale solar projects will take a great deal of time and substantial investments from both the public and private sectors. Also, a smooth transition away from fossil fuels will need to occur. If this does not happen, the national economy could be severely disrupted. Still, the appeal of solar power is undeniable. A growing number of households are now opting for this choice as opposed to more traditional energy sources. Most analysts believe that this trend will continue into the future.
We should also recall that technological advancements will likewise continue to reshape the efficiency of solar power while substantially lowering its cost in the years to come. This should lead to its adoption across multiple industries and regions. From a broad perspective, the future does indeed look bright for solar power.