Solar Power Is Expanding Fast — But Can The World Catch Up?

Finding effective, renewable forms of energy to replace coal and oil is crucial for the health of our planet. And one of the most promising alternatives has always been solar energy.

There have been persistent concerns regarding efficient ways to collect and store that energy as well as the costs associated with installing all the necessary panels.

But researchers say the industry is growing even faster than some of the most optimistic analysts predicted.

Where things currently stand

Estimates indicate that the star at the center of our solar system provides Earth with a staggering 173,000 terawatts of energy each day. That number dwarfs the amount of power all of humanity uses around the globe — so it’s only natural that we’d want to harness as much of that renewable energy as possible.

And as technology advances, it’s becoming easier and more affordable to create new systems capable of collecting more solar energy than ever before.

China has become the most prolific nation on the planet when it comes to installing solar power kits. With well over half of all installations originating in that country, the rapid expansion is helping to keep costs down elsewhere around the world.

All of this puts us at a place where solar energy is on pace to provide more energy than all existing coal plants combined in the near future.

What the future has in store

In addition to more efficient panels, the batteries required for storing energy to use after the sun sets have also received significant upgrades in recent years. And with developing nations seeing a surge in energy demand, the new solar revolution couldn’t come at a better time.

Even though there are some regulatory hurdles to consider, some forecasts suggest solar power capacity will quadruple within the next 10 years.

Chris Agee September 21st, 2024

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