Is Solar Energy the Right Answer?

Our Sun is the biggest source of energy in the planet. Sun can provide over thousand times our current energy demand but yet solar energy is still so scarcely used energy source. Why is that? The answer to this question probably lies in two reasons: high prices and inadequate efficiency.

If you look at the current prices of solar panels you can say that solar panels are not exactly among the cheapest renewable energy solutions, despite the recent drop in prices. The main reason for this is the fact that solar power technologies use very expensive materials such as silicon, and this keeps prices at high levels.

Solar panels also have efficiency issue that needs to be solved by science in years to come. Current efficiency levels of around 30% at their best are certainly not something solar energy industry can be proud of, and there are many ongoing researches that look for cheap and highly efficient solar panels. Some of these new technologies look to be promising but commercialization of these new efficient solar technologies will certainly need many years before being implemented on global scale.

Solar energy industry needs cheaper and more efficient solar power technologies because this is the only way it can compete against currently dominant fossil fuels. In order to dominate on global scale solar energy needs to be cost-competitive with fossil fuels without different incentives and tax benefits, and given currently available technologies this will certainly take some time. But the good news is that solar energy, despite these few major drawbacks is still one of the most popular renewable energy sources, not only in United States, but on the global level as well.