Clean and Renewable

Unlike energy derived from nuclear or fossil fuels, solar energy is completely clean. There are no harmful byproducts released. Solar-powered houses can be completely self-sufficient. This is helpful for protecting homes from power outages as well as reducing electric bills. What’s more, solar energy is renewable. It is a stable resource for billions of years.

Increasingly Competitive

The costs of the main renewable technologies, like wind and solar photovoltaic, are going down a lot. This means that in more and more places, they become cost-competitive with conventional sources. Thanks to economies of scale and innovation, renewable energies are already becoming the most environmentally and economically sustainable way to power the world.

Solar Technologies Become More Effective

Over the past eight years, the global market for solar energy has expanded at a rate of more than 40% annually. This technology has made significant strides in automation, production, and output. Most panels available today are 15% to 20% efficient, which means they can convert 15% to 20% of the solar energy they gather into electricity. The panel efficiency has steadily increased over the last decade, which is encouraging and helps to keep the costs down.

China Has The Fastest Growing Solar Potential In The World

China is expected to have 1,200 GW of wind and solar power installed by 2026. By 2024, China is expected to have the most installed residential solar capacity. This pattern of growth assists China in meeting its commitment to achieve a carbon peak by 2030 and reach carbon neutrality by 2060.