SOLAR industrytuning in to the PRESENT
Enter the present years of 2016-17 and we can significantly observe that this industry is seeing nothing but a tremendous surge in the market. Yes, there are specific investments that need to be made in any energy source but comparatively; solar energy has very low on-going costs. What’s more, the source is totally free! It can also be said that with advanced technology and high demand, the costs for solar energy will keep lessening.
China and U.S are leading the surge in the solar industry. Leading to the solar rush in the U.S and China, the amount of solar power added globally rocketed by almost 50 percent during last year. In 2016, new solar PV (photovoltaic) capacity reached over 76 GW (Gigawatts). This can be considered a dramatic increase compared to the installation of 50 GW (Gigawatts) during the year before. In 2016, both China and U.S doubled the amount of solar power that they had added during 2015. According
to compiled data from Europe’s solar power trade body, there is now 306 GW (Gigawatts) of solar power capacity globally, which is up from just 50 GW (Gigawatts) in 2010.