The Future of Solar PV

Solar PV is going up against some of the biggest industries in the energy market, such as: coal, natural gas, and oil. These industries have been around for quite some time, but the sun is finally setting on their reign, and rising for renewables. The big questions that come to mind are, when and how? Technology and cost aren’t the only things battling against solar PV, politics and economics always play a major role, especially in the energy sector. The good news is that many governments are already employing solar PV as part of their annual agenda. According to the EIA, “The global PV market has experienced vibrant growth for more than a decade with an average annual growth rate of 40%.”[i]This rate will not continue to be this dramatic in the upcoming future; however, it will continue to increase. Receiving global recognition, solar PV continues to attract investors, especially funding from the government. In the United States, the Department of Energy has released plans to facilitate making solar PV more cost competitive against other leading energy sources.[ii] Most importantly, countries going through a 21st century industrial revolution, such as China, India, and Brazil, have started campaigns working toward a solar PV growth policy.[iii]


[i] International Energy Agency. Renewable Energy Division. Technology Roadmap Solar Photovoltaic Energy. Paris: OECD/IEA, 2010. Web. 01 Mar. 2012. <http://www.iea.org/papers/2010/pv_roadmap.pdf>

[ii] International Energy Agency. Renewable Energy Division. Technology Roadmap Solar Photovoltaic Energy. Paris: OECD/IEA, 2010. Web. 01 Mar. 2012. <http://www.iea.org/papers/2010/pv_roadmap.pdf>

[iii] International Energy Agency. Renewable Energy Division. Technology Roadmap Solar Photovoltaic Energy. Paris: OECD/IEA, 2010. Web. 01 Mar. 2012. <http://www.iea.org/papers/2010/pv_roadmap.pdf>

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