Will solar power rule as a dominating energy source for a cleaner and brighter future?
Although technology has made considerable progress in establishing distribution methods of solar power, the phenomenon is yet to gain a concrete foothold. Solar energy still remains as elusive to the common man as it did 60 years ago when it first featured for use on the US Vanguard Satellite, which was launched in 1958.
In terms of cost, the price of a solar cell has drastically reduced from $1910 per watt in its year of inception to the current rate of $0.80. Solar technology has lagged behind the commercial success of electricity, motor vehicles and even the cell phone. In spite of studies by researchers of Oxford University claiming an increase of solar usage by 2027, the IEA or International Energy Agency feels differently, by establishing solar energy’s contribution to global electricity at just 16%.
1 The Role of Solar Energy in Developing Countries
Solar power technology is currently on a positive high in developing countries like India and Bangladesh. China being the largest producer of solar power in the world is effectively using solar power for industrial farming. As small as it is, Bangladesh has powered almost 3.5 m rural homes with solar energy. Solar energy has also found a huge advocate in the likes of Indian PM Narendra Modi who has promoted the concept of a global solar alliance. As economies and population extend the borders of both rural and urban living, solar energy will soon emerge as the cheapest source of future power.