Abundant and Renewable Solar Energy
The sun provides an enormous amount of energy that hits the earth each day. Roughly 3,850,000 exajoules (an exajoule is a unit of energy equal to 10^18 joules) of solar energy reaches the Earth's atmosphere every year. To put that in perspective, world energy consumption is around 600 exajoules annually. If we could capture just a small fraction of the sun's energy and convert it to electricity, it could supply all of our power needs. Unlike non-renewable fossil fuels like oil and coal, the sun's energy is constantly replenished so solar power is truly a sustainable source of electricity. As long as the sun is shining, we have access to solar energy now and for generations to come.
Decreasing Cost of Solar Power Systems
The costs of solar panels and the full photovoltaic (PV) systems needed to convert solar energy into usable electricity have declined drastically in recent decades. Solar panel costs have fallen by over 80% since 2009 according to the International Renewable Energy Agency with continued downward trends forecasted. As Solar Power Bank production has ramped up globally and technological efficiencies improved, solar systems have become increasingly affordable alternatives to power generated from fossil fuels. In many sunny regions, the levelized cost of energy (LCOE) for utility-scale solar is now lower than new natural gas power plants without subsidies. For homeowners, average residential PV installation prices in the U.S. are approximately $3 per watt for a typical 5 kW system as of 2022.
Low Maintenance and Operation Costs
Once solar power systems are constructed, they require very little ongoing maintenance and have virtually no fuel costs since they simply utilize the free energy from the sun. Solar panels are designed to last over 25 years with only occasional cleaning needed to remove dust or debris that may reduce output levels. Inverters that convert the direct current (DC) generated from solar into usable alternating current (AC) like the electrical grid typically have lifespan between 10-15 years. Other than occasional inverter replacements, solar energy yields free electricity for decades with just simple annual or biannual inspections recommended. The ultra-low operation and maintenance costs paired with falling installation prices make solar a very attractive long-term investment.
Jobs and Economic Growth from the Solar Industry
The solar energy sector has seen enormous growth worldwide and now supports hundreds of thousands of well-paying jobs across supply chains, manufacturing, construction, and project development. In the U.S. alone, the solar industry employed over 250,000 Americans in 2020 according to the nonprofit Solar Foundation. Deployment of solar and other renewable energy sources are supporting new economic opportunities around the globe. As advanced manufacturing techniques are pursued to drive technology and cost improvements further, more jobs will continue to be created throughout researching, designing, producing, installing and servicing all aspects of clean power installations. The solar industry is projected to add over 1 million jobs directly by 2030 globally and help transition fossil fuel dependent regions towards sustainable growth models driven by renewable energy projects and expertise.
Reduced Pollution and Public Health Impacts
Burning coal, oil and natural gas to produce electricity releases harmful emissions including nitrogen oxides, sulfur dioxide, particulate matter as well as greenhouse gases that are warming our planet's climate. By generating power from the abundant, emission-free sun, solar energy avoids all of these pollutants from being emitted into the air we breathe. The U.S. Environmental Protection Agency estimates that transitioning to more solar and wind power deployment nationwide could prevent thousands of premature deaths and millions of asthma attacks each year associated with air pollution exposures. On a global scale, transitioning to renewable energy like solar could avoid nearly 7 million premature deaths annually according to the latest research. Beyond avoiding human health damages, deploying more solar energy production also protects environmental quality and biodiversity threatened by the impacts of climate change driven by carbon emissions.
Energy Independence and Resiliency
By harnessing native solar energy resources, communities and nations have greater control over their own destiny when it comes to electrical power needs. Rather than relying on imported fossil fuels, a diversified mix of distributed solar, wind, energy storage and other domestic energy sources enhances energy security. During extreme weather events or other disruptions, solar, battery storage and microgrids can help ensure critical facilities stay powered. Widespread rooftop solar paired with community solar farms also strengthens grid resiliency by distributing generation assets more broadly. As climate change drives more frequent and intense hurricanes, wildfires, droughts and other natural disasters, solar energy can play an important role improving power reliability at household and regional levels.
as technology innovations drive down costs rapidly while the sun's energy remains limitless and free, solar power is developing into one of the most viable and beneficial ways to generate clean electricity now and for future generations. From job creation to public health benefits and greater energy independence, the multiple advantages of tapping our largest energy source make large-scale solar deployment an increasingly compelling energy solution worldwide. With continued private sector investments and policymaker support, the new solar age has tremendous potential to transform our power systems onto more sustainable footing.
• Explore additional details from the source:
Solar Power Bank: An Inexhaustible Source of Clean Energy
Solar Power Bank is the Future of Energy Generation
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