Solar Energy is Estimated to Become the Frontline of Electricity in the Near Future
With the pandemic in place and many companies forced to cease business temporarily, there has been a reduction in carbon emissions. As more employees continue to work from home and less fossil fuels are burned, there has been a decrease in the coal demand.
In fact, the International Energy Agency conducted a study, estimating “275 gigawatts of coal-fired capacity to be retired by 2025,” and see a potential for coal shares around the world to drop “from 37% to 28% in 2030” (Ziady, 2020). If this all plays accurately, solar energy may become the leading provider for electricity at 80% in the near future. More businesses will eventually switch to solar systems due to their low cost, helping attract further attention to the energy efficient movement.
As more innovations come to fruition and technologies advance, solar photovoltaic cells will continue to cut down in price allowing more business owners and homeowners to invest in themselves. With more solar projects underway, the price per kilowatt-hour used will likely be cheaper than that of power plants. This will increase solar capacity by almost 12% every year until then end of the decade. With more of the world involved in solar energy, there will be more opportunities to find solutions to climate change and develop eco-friendly alternatives for oil (2020).
Ziady, Hanna. (2020, October 13). Solar power could be ‘the new king’ as global electricity demand grows. CNN Business. Retrieved from https://www.cnn.com/2020/10/13/energy/iea-world-energy-outlook-2020/index.html.