Current Status and Future Prospects of Solar Power - Coursework Example

Current Status And Future Prospectus Of Solar Power Current Status And Future Prospectus Of Solar Power Introduction The term renewable energy is used to refer to the production of energy through various resources which naturally reproduce themselves with the passage of time and with the consumption of these resources by mankind. These resources may or may not include the wind as well as air and sunlight. There are various reasons due to which human beings need to adopt renewable energy and refrain from or reduce the consumption of nonrenewable energy. The nonrenewable energy refers to energy that is produced through resources that do not produce themselves or are available in limited quantity such as energy produced through fossil fuels. One of the reasons due to which renewable energy should be adopted by the society is to reduce the consumption of nonrenewable energy sources and to ensure that these sources do not end up becoming extinct. This will even help in ensuring that the future generations have access to energy sources other than fossil fuels and can continue to benefit from these sources. During the period of 2002, CRC reported that nonrenewable energy sources such as petroleum, gas and coal are depleting at a very fast pace and by the period of 2100, 2168 and 2232 world petroleum, gas and coal reserves will reach complete depletion (CRC, 2002). Another reason due to which renewable energy resources need to be adopted is that the renewable energy sources are much environment friendly as compared to the non-renewable ones. Nonrenewable energy sources are one of the main sources of emission of carbon dioxide in the environment and are one of the major causes of global warming. A study was conducted by Ellabban et al. and the researchers reported that renewable energy sources such as solar power, geothermal energy and wind energy sources do not cause any form of air as well as water pollution (Ellabban et al., 2014). Other than these two benefits there are several other benefits associated with the adoption of renewable energy sources. This research will focus on the renewable energy source of solar power while focusing on its advantages as well as disadvantages, the current status of its adoption as well as production and its future outlook. Body Solar Power Generation Method There are two different ways through which solar power or electricity generated through solar energy takes place. These two methods include the Photovoltaic and Concentrated Solar Power. Photovoltaic solar power produced energy and electricity with the utilization of solar cells that are required for the conversion of sunlight into smoothly flowing electrons. The purpose of solar cells is to help in the production of electrical current with the help of sun rays and this power can be utilized in providing power to machinery as well as batteries. A collection of these cells is regarded as a Photovoltaic module which has the ability to generate electricity ranging between 50 W to 200 W (Ellabban et al., 2014). In order to produce energy for a smaller facility a few number of these modules are combined with each other, but in order to produce energy for a larger facility a huge number of these modules are combined together. The higher the number of modules attached with each other, the higher will be the generation of power and these modules have the ability to generate tens of megawatts of power when combined with each other (Ellabban et al., 2014). The second procedure for producing energy through sunlight is called concentrating solar power. In order to produce energy through concentrating solar power, mirrors are used in order to obtain energy directly from the sunlight and this energy is used for the operation of various engines such as turbines in order to generate electricity for households as well as for residential purposes (SEIA, 2015). While using this method, the energy produced can be stored for future use in a plant of concentrating solar power. These plants come in different sizes and shapes and these differences in sizes and shapes are due to the difference in their purpose. One such plant is recognized as the power tower and this technology comprises of a central receiver to obtain sunlight and then generates electricity. The receiver obtains sunlight from various flat mirrors that are located around the receiver. The sunlight first land on the mirror and the mirrors reflect the sunlight towards the receiver and the receiver generates power for the operation of a central power generator (SEIA, 2015). Strengths And Weaknesses Of Solar Power There are various economic benefits associated with the adoption of solar energy. These benefits includes the monetary benefit of saving more than $2,900 throughout the useful life of a water heater if an individual uses solar energy to heat water (Azsolarcenter.org, 2013). Another benefit is the high amount of tax credits that an individual receives for installing solar power. In the United States around 30% credit can be obtained by those who adopt this form of energy (Azsolarcenter.org, 2013). Solar energy is a renewable source of energy and unlike nonrenewable sources of energy it is quite environment friendly. Kalogirou conducted a study in which the researcher tried the reduction in the emission of harmful greenhouse gasses as a result of implementing solar power. Kalogirou was able to identify that emission of greenhouse gasses declined by more than 80% when water heaters that were operated on diesel were compared with water heaters operated through solar energy (Kalogirou, 2004). Adoption of Solar power even has certain technological benefits associated with it. Solar power plants are mostly located in heavy dry regions where there is lack of agricultural activity. The installation of solar power plants in these areas may attract new businesses and commercial activity which in turn may result in benefiting the communities that reside in these areas. One of the major benefits that community attains from installation of these power plants is the employment benefit as local employees may be hired for the installation as well as maintenance and smooth operation of these plants. According to EREC, if a power plant that generates 100 MW of energy is installed, this will result in the creation of 400 man/year jobs that are created through manufacturing industries (EREC, 2010). One of the major challenges that is experienced by this form of solar power is that solar power generation techniques such as Concentrating Solar Power requires huge amount of land that is flat and does not experience environmental conflicts such (Boyd, 2013). Another issue is that the areas in which these technologies can be installed lack proper infrastructure to benefit the society through solar power. For example, in the region of United States the land areas which have been designated for the installation of solar energy lack popper transmission network (Boyd, 2013). Current Status Of Solar Power There has been an increase in the demand for energy produced through solar power and this demand is continuing to increase with the passage of time and awareness. Ellabban et al. reports that during the period of 2012 Photovoltaic (PV) solar power plants installations increased and were able to add 30.2 GW of electricity produced through these plants all over the world (Ellabban et al., 2014). Due to this huge increase in adoption of solar power, the total energy produced through PV plants increased to 100 GW and this increase in power generation was 43% of what was recorded during the period of 2011 (Ellabban et al., 2014). Ellabban et al. even states that solar energy produced through Concentrating Solar Power even elevated and by the period of 2012 the total amount of energy produced through this method elevated to 2550 MV and this increase accounted for an increase of 60% as compared to the period of 2011 (Ellabban et al., 2014). The supply side did not only experience an increase, there was a major increase in the demand for energy produced through solar power. Ellabban et al. reports that around 26% increase in the demand for solar energy produced through the method of PV was observed during the period of 2012 (Ellabban et al., 2014). With the passage of time, increase in supply and demand has even been experienced as a result of continuous drop in the cost of installing and adopting energy adopted through solar power. Rogers states that the cost of installing PV plants and modules started declining by the period of 2009 and have continued to fall by more than 30% by the period of 2012 (Rogers, 2014). Rogers reports that during the period of 2009, the recorded cost of installing PV systems was around $32,000 for the production of every five KW of energy and by the period of 2013 the cost had reduced to $23,000 (Rogers, 2014). He has further added that this decline in cost does not include the various benefits that government is offering to those who are adopting these methods of producing energy. Future Prospectus Of Solar Power Currently the world is already experiencing increase in demand and supply of energy produced through solar power and at the same time a huge reduction in cost has even been experienced. In future it has already been projected that the cost will continue to decline and the demand and supply will continue to elevate. EPIA has reported that solar power generated through PV systems is already competing with energy that is being produced through fossil fuels such as diesel. The EPIA has even stated that by the period of 2020 the production capacity of solar power through PV systems will elevate to 250 GW and by the period of 2030 the capacity can even elevate to 1100 GW (EPIA, 2014). Other than the increase in the capacity and demand for solar energy produced through PV systems, the cost of installing as well as maintaining these systems has even been expected to decline. It has been estimated that by the period of 2030 energy produced through solar power will alone provide for 14% of the energy needs in the entire of United States of America and this figure is expected to elevate to 25% of the needs (Research & Development, 2015). The NREL has projected that the cost of installing PV systems may not experience dramatic increase or decrease as it happened in the past but they may reduce slightly. NREL reports that by the period of 2016 the cost of producing electricity through PV systems will decline to $0.60/W and by the period of 2020 the prices will further reduce by 50% (NREL, 2014). Summary The purpose of adoption of energy generated through solar power is that it is a renewable source of energy and can replace the nonrenewable sources of energy such as energy produced through fossil fuels. Replacement of renewable with nonrenewable sources of energy has various benefits such as decrease in the use of nonrenewable sources of energy that are on the verge of becoming depleted and to safeguard the environment against the negative effects of nonrenewable sources of energy. There are two methods of producing energy through solar power. These two methods include the photovoltaic system and concentrated solar power systems. Producing energy through these systems have various economic, environmental, technological benefits while at the same time there are certain challenges associated with producing energy through these systems. Currently, energy produced through solar power is helping in meeting 26% of the energy needs throughout the world and has a capacity of producing 100 GW of energy. The cost of producing energy through these systems has even declined significantly as compared to the costs that were experienced during the period of 2009. It has been estimated that the global capacity of producing energy through solar power will elevate to 250 GW by the period of 2020 and this will further increase to 1100 GW by the period of 2030. It has even been estimated that the cost of installing and maintaining solar power producing systems such as the PV will continue to further reduce in the coming years. References Colorado River Commission of Nevada (CRC),. (2002). World Fossil Fuel Reserves And Projected Depeltion. Retrieved 1 April 2015, from http://crc.nv.gov/docs/world%20fossil%20reserves.pdf Azsolarcenter.org,. (2013). Arizona Solar Center - Your Guide to Solar and Other Renewable Energy Sources in Arizona - Economic Benefits of Solar. Retrieved 2 April 2015, from http://www.azsolarcenter.org/economics/economic-benefits-of-solar.html European Renewable Energy Council (EREC). (2010). Renewable energy in Europe: Markets, trends, and technologies. London: Earthscan. Boyd, M. (2013). Concentrating Solar Power: Prospects and Challenges | PSR. Psr.org. Retrieved 2 April 2015, from http://www.psr.org/environment-and-health/environmental-health-policy-institute/responses/concentrating-solar-power.html Rogers, J. (2014). The Cost of Installing Solar Panels: Plunging Prices, and What They Mean For You - The Equation. Blog.ucsusa.org. Retrieved 2 April 2015, from http://blog.ucsusa.org/cost-of-installing-solar-panels-635 European Photovoltaics Industry Association (EPIA),. (2014). Global Market Outlook For Photovoltaics 2014 - 2018. Retrieved 2 April 2015, from http://www.epia.org/fileadmin/user_upload/Publications/44_epia_gmo_report_ver_17_mr.pdf Research & Development,. (2015). Limitless Photovoltaic Future. Retrieved 2 April 2015, from http://www.rdmag.com/articles/2015/02/limitless-photovoltaic-future National Renewable Energy Laboratory (NREL),. (2014). Photovoltaic System Pricing Trends. Retrieved 2 April 2015, from http://www.nrel.gov/docs/fy14osti/62558.pdf Kalogirou, S. A. (January 01, 2004). Environmental benefits of domestic solar energy systems. Energy Conversion and Management, 45, 3075-3092. Ellabban, O., Abu-Rub, H., & Blaabjerg, F. (November 01, 2014). Renewable energy resources: Current status, future prospects and their enabling technology. Renewable and Sustainable Energy Reviews, 39, 8, 748-764. SEIA,. (2015). Concentrating Solar Power. Retrieved 1 April 2015, from http://www.seia.org/policy/solar-technology/concentrating-solar-power Read More