Renewable energy is derived from natural processes that are replenished constantly. In its various forms, it derives directly from the sun, or from heat generated deep within the earth. Included in the definition is electricity and heat generated from solar, wind, ocean, hydropower, biomass, geothermal resources, and biofuels and hydrogen derived from renewable resources.
Thorium is a fissionable material used in thorium-based nuclear power. The thorium fuel cycle claims several potential advantages over a uranium fuel cycle, including greater abundance, superior physical and nuclear properties, better resistance to nuclear weapons proliferation and reduced plutonium and actinide production. Therefore, it is sometimes referred as sustainable.
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.
Projections vary. The EIA has predicted that almost two thirds of net additions to power capacity will come from renewables by 2020 due to the combined policy benefits of local pollution, decarbonisation and energy diversification. Some studies have set out roadmaps to power 100% of the world’s energy with wind, hydroelectric and solar by the year 2030.
A solar cell, or photovoltaic cell (PV), is a device that converts light into electric current using the photovoltaic effect. The first solar cell was constructed by Charles Fritts in the 1880s. The German industrialist Ernst Werner von Siemens was among those who recognized the importance of this discovery. In 1931, the German engineer Bruno Lange developed a photo cell using silver selenide in place of copper oxide, although the prototype selenium cells converted less than 1% of incident light into electricity. Following the work of Russell Ohl in the 1940s, researchers Gerald Pearson, Calvin Fuller and Daryl Chapin created the silicon solar cell in 1954. These early solar cells cost 286 USD/watt and reached efficiencies of 4.5–6%.