What is its future potential?

No one can predict the future, but there are some potentialities that can be considered for the future of solar energy.

Firstly, the cost of solar energy has been dropping rapidly in recent years and is expected to continue to do so. The price of solar photovoltaic (PV) panels has fallen by around 60% since 2010, making solar energy much more affordable than it used to be. As the cost of solar continues to decline, more and more people and businesses are likely to switch to solar.

Secondly, the efficiency of solar panels is constantly increasing. PV panels are now about 20% more efficient than they were a decade ago, and research is ongoing to further improve their efficiency. As solar panels become more efficient, they will require less space to generate the same amount of power, making solar a more practical option for more people.

Thirdly, the market for solar energy is growing rapidly. In 2018, global solar PV capacity increased by around 47% from the previous year. This growth is being driven by declining costs, increasing efficiency, and favorable government policies in many countries. The International Energy Agency expects the solar PV market to grow even faster in the coming years, with installed capacity doubling every five years through 2030.

Fourthly, solar energy is a renewable resource that will never run out. Unlike fossil fuels, which are finite and will eventually be depleted, solar energy can be used indefinitely. As long as the sun continues to shine, we will be able to harness solar power.

Finally, solar energy is a clean source of power that doesn’t pollute the environment. Burning fossil fuels releases harmful greenhouse gases into the atmosphere, contributing to climate change. Solar energy, on the other hand, is a renewable resource that emits no pollutants when generating electricity.

The future looks bright for solar energy. With costs falling, efficiency increasing, and the market growing rapidly, solar is poised to play a major role in the global energy mix in the years to come.

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