SO­LAR in­dus­try­tun­ing in to the PRESENT

Industry Leaders - - Imminent Trends -

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.

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