Saturday, September 3, 2011
Advantages of Solar Power
Solar energy makes use of a renewable natural resource that is readily available in many parts of the world. -The process used to generate solar energy is emission free. -Technological advances have reduced costs to a point that it can compete with fossil fuel alternatives in specific circumstances. -The technology is scalable in that it can be used for domestic heating purposes or on a larger scale for commercial electricity generation, as solar water heaters are an established technology, widely available and simple to install and maintain. Disadvantages. The biggest barriers to increasing solar power generation are the cost, the amount of land required for large scale electricity production, and the intermittent nature of the energy source. Outlook Although wind power is more economical and has been more widely adopted than solar energy, solar power is the most flexible in scale and application. It also is widely available and an environmentally benign source of renewable energy. It is currently a $7 billion per year business that is growing at 40 percent per annul, but we believe it has even greater potential for growth in the future. Venture capital companies have increased funding in this area over the past few years, and there is a positive investment environment in both Europe and Japan for these types of companies. [Excerpts from Wells Fargo, Special Report Identifying the Opportunities in Alternative Energy.