“Renewable Energy Market to Garner $2,152 Billion by 2025, Reveals Report” • According to a report published by Allied Market Research, renewables industries will very likely result in an impressive growth for the entire market. It projects the global renewable energy market is to reach in excess of $2,152 billion by 2025. [Interesting Engineering]
A photovoltaic system converts light into electrical direct current (DC) by taking advantage of the photoelectric effect.[51] Solar PV has turned into a multi-billion, fast-growing industry, continues to improve its cost-effectiveness, and has the most potential of any renewable technologies together with CSP.[52][53] Concentrated solar power (CSP) systems use lenses or mirrors and tracking systems to focus a large area of sunlight into a small beam. Commercial concentrated solar power plants were first developed in the 1980s. CSP-Stirling has by far the highest efficiency among all solar energy technologies.
Solar heating systems are a well known second-generation technology and generally consist of solar thermal collectors, a fluid system to move the heat from the collector to its point of usage, and a reservoir or tank for heat storage and subsequent use. The systems may be used to heat domestic hot water, swimming pool water, or for space heating.[21] The heat can also be used for industrial applications or as an energy input for other uses such as cooling equipment.[22] In many climates, a solar heating system can provide a very high percentage (20 to 80%) of domestic hot water energy. Energy received from the sun by the earth is that of electromagnetic radiation. Light ranges of visible, infrared, ultraviolet, x-rays, and radio waves received by the earth through solar energy. The highest power of radiation comes from visible light. Solar power is complicated due to changes in seasons and from day to night. Cloud cover can also add to complications of solar energy, and not all radiation from the sun reaches earth because it is absorbed and dispersed due to clouds and gases within the earth's atmospheres.[23]

With investment subsidies, the financial burden falls upon the taxpayer, while with feed-in tariffs the extra cost is distributed across the utilities' customer bases. While the investment subsidy may be simpler to administer, the main argument in favour of feed-in tariffs is the encouragement of quality. Investment subsidies are paid out as a function of the nameplate capacity of the installed system and are independent of its actual power yield over time, thus rewarding the overstatement of power and tolerating poor durability and maintenance. Some electric companies offer rebates to their customers, such as Austin Energy in Texas, which offers $2.50/watt installed up to $15,000.[96]

Sustainable energy is energy that is consumed at insignificant rates compared to its supply and with manageable collateral effects, especially environmental effects. Another common definition of sustainable energy is an energy system that serves the needs of the present without compromising the ability of future generations to meet their energy needs.[1] Not all renewable energy is sustainable. While renewable energy is defined as energy sources that are naturally replenished on a human timescale, sustainable (often referred to as 'clean') energy must not compromise the system in which it is adopted to the point of being unable to provide for future need. The organizing principle for sustainability is sustainable development, which includes the four interconnected domains: ecology, economics, politics and culture.[2] Sustainability science is the study of sustainable development and environmental science.[3]
A good match between generation and consumption is key for high self consumption, and should be considered when deciding where to install solar power and how to dimension the installation. The match can be improved with batteries or controllable electricity consumption.[94] However, batteries are expensive and profitability may require provision of other services from them besides self consumption increase.[95] Hot water storage tanks with electric heating with heat pumps or resistance heaters can provide low-cost storage for self consumption of solar power.[94] Shiftable loads, such as dishwashers, tumble dryers and washing machines, can provide controllable consumption with only a limited effect on the users, but their effect on self consumption of solar power may be limited.[94]
Sustainable energy is energy that is consumed at insignificant rates compared to its supply and with manageable collateral effects, especially environmental effects. Another common definition of sustainable energy is an energy system that serves the needs of the present without compromising the ability of future generations to meet their energy needs.[1] Not all renewable energy is sustainable. While renewable energy is defined as energy sources that are naturally replenished on a human timescale, sustainable (often referred to as 'clean') energy must not compromise the system in which it is adopted to the point of being unable to provide for future need. The organizing principle for sustainability is sustainable development, which includes the four interconnected domains: ecology, economics, politics and culture.[2] Sustainability science is the study of sustainable development and environmental science.[3]

In the mid-1990s, development of both, residential and commercial rooftop solar as well as utility-scale photovoltaic power stations, began to accelerate again due to supply issues with oil and natural gas, global warming concerns, and the improving economic position of PV relative to other energy technologies.[34] In the early 2000s, the adoption of feed-in tariffs—a policy mechanism, that gives renewables priority on the grid and defines a fixed price for the generated electricity—led to a high level of investment security and to a soaring number of PV deployments in Europe.
Using 100% renewable energy was first suggested in a Science paper published in 1975 by Danish physicist Bent Sørensen.[150] It was followed by several other proposals, until in 1998 the first detailed analysis of scenarios with very high shares of renewables were published. These were followed by the first detailed 100% scenarios. In 2006 a PhD thesis was published by Czisch in which it was shown that in a 100% renewable scenario energy supply could match demand in every hour of the year in Europe and North Africa. In the same year Danish Energy professor Henrik Lund published a first paper[151] in which he addresses the optimal combination of renewables, which was followed by several other papers on the transition to 100% renewable energy in Denmark. Since then Lund has been publishing several papers on 100% renewable energy. After 2009 publications began to rise steeply, covering 100% scenarios for countries in Europe, America, Australia and other parts of the world.[152]
A wide range of concentrating technologies exists: among the best known are the parabolic trough, the compact linear Fresnel reflector, the Stirling dish and the solar power tower. Various techniques are used to track the sun and focus light. In all of these systems a working fluid is heated by the concentrated sunlight, and is then used for power generation or energy storage.[11] Thermal storage efficiently allows up to 24-hour electricity generation.[12]
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