A hybrid system combines (C)PV and CSP with one another or with other forms of generation such as diesel, wind and biogas. The combined form of generation may enable the system to modulate power output as a function of demand or at least reduce the fluctuating nature of solar power and the consumption of non renewable fuel. Hybrid systems are most often found on islands.
It is hard to beat the advantages of solar: No moving parts. Warranties of 25 years are common for PV modules. No maintenance, other than the occasional hosing-off if you live in a dusty place. The installed price of a 6 kW wind turbine on a good height tower is about $50,000 (and we are not even counting the money you are going to sink into maintenance of that wind turbine). At the time of this writing, half that money will buy you about 7 kW of installed solar panels. In our not-so-sunny Ottawa location those solar modules will produce around 8,000 kWh of electrical energy per average year, and they will do that for 30 years or more.
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Alternatively, SRECs allow for a market mechanism to set the price of the solar generated electricity subsity. In this mechanism, a renewable energy production or consumption target is set, and the utility (more technically the Load Serving Entity) is obliged to purchase renewable energy or face a fine (Alternative Compliance Payment or ACP). The producer is credited for an SREC for every 1,000 kWh of electricity produced. If the utility buys this SREC and retires it, they avoid paying the ACP. In principle this system delivers the cheapest renewable energy, since the all solar facilities are eligible and can be installed in the most economic locations. Uncertainties about the future value of SRECs have led to long-term SREC contract markets to give clarity to their prices and allow solar developers to pre-sell and hedge their credits.

As of 2011, small solar PV systems provide electricity to a few million households, and micro-hydro configured into mini-grids serves many more. Over 44 million households use biogas made in household-scale digesters for lighting and/or cooking, and more than 166 million households rely on a new generation of more-efficient biomass cookstoves.[26] United Nations' Secretary-General Ban Ki-moon has said that renewable energy has the ability to lift the poorest nations to new levels of prosperity.[14] At the national level, at least 30 nations around the world already have renewable energy contributing more than 20% of energy supply. National renewable energy markets are projected to continue to grow strongly in the coming decade and beyond, and some 120 countries have various policy targets for longer-term shares of renewable energy, including a 20% target of all electricity generated for the European Union by 2020. Some countries have much higher long-term policy targets of up to 100% renewables. Outside Europe, a diverse group of 20 or more other countries target renewable energy shares in the 2020–2030 time frame that range from 10% to 50%.[11]
As the cost of solar electricity has fallen, the number of grid-connected solar PV systems has grown into the millions and utility-scale solar power stations with hundreds of megawatts are being built. Solar PV is rapidly becoming an inexpensive, low-carbon technology to harness renewable energy from the Sun. The current largest photovoltaic power station in the world is the 850 MW Longyangxia Dam Solar Park, in Qinghai, China.
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