The Economic Potential of Solar Energy - Research Paper Example

Free Energy Full Sustainable development is a hot topic in the world of politics today. The reason why it has attracted somuch attention signifies a looming crisis and the repercussions it would have on people and the environment both. The limited supply of fossil fuels puts up greater pressure on reconsideration of the usage of fossil fuels and pushes up the need for alternate sources of energy. Free energy can be provided by both nuclear and solar means. However, nuclear means generate choloroflorcarbons, CFCs, and are costly to set up. Therefore solar energy is a feasible free energy. Renewable sources of energy are those sources that can be replenished. Making a transition towards more renewable forms of energy would result in independency from local sources of energy and a more decentralized production of energy that is less vulnerable to supply cutoffs. Solar energy can be harnessed by concentrating solar power (CSP) or photovoltaic (PV) technology. The economic potential in industrialized countries, and the shift towards more renewables-intensive industry in both the US and China, is an optimistic sign for solar energy. Keywords: fossil fuels, free energy, nuclear energy, renewable energy, solar energy Free Energy Sustainable development is a hot topic in the world of politics today. The reason why it has attracted so much attention signifies a looming crisis and the repercussions it would have on people and the environment both. Numerous summits and conferences have been conducted and hundreds of organizations all over the world have met and discussed solutions to the predicament the world faces if it continues to use its energy sources the way it is doing now. The contours of the reason for taking such steps are worth pointing out. The population of the world is increasing at a rapid rate and has tripled over the past seven decades. It had reached an alarming figure of 6 billion at turn of the twentieth century. The rapid increase in the population does not come without its share of problems. Mankind is plunged into a yet deeper abyss of poverty, scarcity of resources and shortage of non-renewable energy reserves. Stocks of resources are being depleted swiftly. Where people in many developed countries have taken energy for granted, the developing countries are facing the brunt of the global energy crisis. The environment is deteriorating due to deforestation, increase in the greenhouse gases, extinction of species and climate changes. Increasing population has caused a dearth of food in many poor countries, where thousands do not have access to clean drinking water and are suffering from malnutrition. More than two billion people worldwide are living below the poverty line and rely on biomass for the fulfillment of their energy required. People have hoarded up food resources that are in high demand, or overprice them, causing the demand for them to stay at high levels, and their prices to soar. The basic essentials of life are subject to increasing prices as well. Subsequently, every sector has experienced any increase in price, and the energy sector is no exception. A large population pushes the demand for resources higher, and to meet up for that, it has led to the mechanization of the production of goods. Farms and factories have become completely mechanized, consequentially using more of the non-renewable energy sources. Energy is powering factories, transportation and manufacturing enterprises. Since time immemorial, fossil fuels have been the prime source of energy to fulfill both domestic and commercial needs for energy. Oil is one of the non-renewable sources of energy that has been the fossil fuel of choice since the 1960s and its taste is not likely to diminish either in the next few years. Statistics show that the total world consumption of oil has risen dramatically in the past few decades, from 31,095,000 barrels daily in 1965 to 84,077,000 barrels daily in 2009 (Choppin, 2009). The world is still not weaning off from the consumption of fossil fuels and with the current consumption rate of oil, it has been estimated that oil reserves would run out in the next seventy-five years. However, chaos is to strike sooner than the time when reserves run out; it is dependent on when the production of oil becomes less than the demand for it. The production of oil and other sources also depends on the environmental and social problems that it encompasses. The recent oil spill in the Gulf of Mexico is illustrative of the fact that we need to cut down our dependency on oil. Such disasters put up greater pressure on reconsideration of the usage of fossil fuels and pushes up the need for alternate sources of energy. Renewable energy The need for renewable sources of energy arises not only from the shortage of natural reserves of oil, gas and coal but also due to the negative impact their combustion has on the environment. Oil prices are sky rocketing and are a strain on poor economies that are dependent on the import of oil to fulfill their energy demands. These economies are at a crossroad now. They have the choice of using and developing renewable source of energy, or to continue importing oil at high prices, with little security for future since the reserves are dwindling rapidly. The development of renewable sources of energy can solve the challenge that the world is facing today. The choices that the governments make today can influence the future of mankind tomorrow. One aspect of supplying the increasing needs of the population entails the choice of energy sources other than non-renewable sources of energy. As a result, organizations and key figures all over the world have grouped together in the achievement of a common aim: the shift to more sustainable, green sources of energy. The use of conventional energy sources will not offset the energy demand in the coming years, but newly emerging renewable energy technologies are predicted to take an important role in the energy scenarios of the future usage of energy (Şen, 2008). Renewable sources of energy are those sources that can be replenished. They hold great promise for meeting the growing demands of energy. It has been predicted that the development of renewable sources of energy, along with the elimination of inequitable subsidies and inaccurate pricing, will help to provide energy at prices that are significantly lower than traditional forms of energy, like fossil fuels and nuclear energy, which are used commonly (Miller & Spoolman, 2009). Studies forecast that renewable sources can account for more than sixty percent of the world’s demand for electricity and more than forty percent of the demand for fuels. Also, the development and widespread use of renewable resources does not have any hidden price like environmental degradation and so will provide environmental advantages that cannot be measured in standard monetary accounts. Making a transition towards more renewable forms of energy would result in independency from local sources of energy and a more decentralized production of energy that is less vulnerable to supply cutoffs. Like discussed earlier, import of oil draws heavily on the economy of a country, and so renewable sources of energy can provide more national security for poor economies by reducing their requirement to import oil from the Middle East. This will also result in reduced trade deficits that are caused by large number of imports compared to exports. While being more environment-friendly, development of renewable technology can create job opportunities. In a study conducted by Worldwatch Institute, the development of renewable systems of energy can account for more than 2.7 million new jobs all over the world (Miller & Spoolman, 2009). There are many renewables-intensive energy; these include geothermal, solar, wind, tidal and wave. These sources are abundantly available since they are part of the environment. The sun shines everyday, the wind blows consistently, hot springs are readily available and replenished by water reserves. Renewable sources of energy have received further boast with advances in technology like biomaterials, electronics etc. Advances in technology has not only made the harnessing of these sources easier, but has also made the process more efficient. The size of the equipment used for the development of renewable sources is also not large; thus making it a competitive source. In the current crisis, the world needs to use that source of energy that can meet the energy demands of the population and not be expensive as well. Many people assert that nuclear technology can freely provide energy that can sustain the population requirements. However, the view that it is completely free is not true. Nuclear power can provide energy that does not carbon, but there are many implications of using nuclear power. Nuclear power poses safety hazards, and the disposal of nuclear wastes is a major issue. The long-term handling of nuclear materials is also one of the concerns that are being raised regarding nuclear power. Not only the development of nuclear energy is expensive, but it also draws resources and focus away from the development of renewables-intensive energy. Nuclear energy contributes to the pollution and global warming. It uses up uranium, which is not only limited in supply but also requires the consumption of fossil fuels to locate, retrieve and process it into usable forms. The Chernobyl nuclear disaster is considered to be the worst nuclear disaster in history, and thousand of individuals have been diagnosed with thyroid cancer near the disaster area. Enrichment of uranium also releases chlorofluorocarbons (CFCs), elements that damage the ozone layer significantly. The development of nuclear energy will cause yet more production of carbon dioxide and CFCs in the future. The reserves of uranium will decline over the passage of years, and will require the consumption of more fossil fuels to extract ore from less concentrated ore veins (Caldicott, 2007). Thus nuclear energy is not a feasible choice for developing energy in the long run. The only suitable choice for the production of free energy that can meet the demands of the population is solar energy. Solar energy is the lifeblood for sustaining all living organisms in the world. The earth is situated at an ideal distance and orbit from the sun, making the phenomenon of life possible, and is primarily a huge solar collector that receives radiant energy from the sun in the form of electromagnetic spectrum (Ghassemi, 2009). Human beings have been dependent on energy from the sun since the start of life. Energy from the sun is used in photosynthesis to sustain not only vegetation and provide organisms with a never-ending supply of oxygen, but all forms of life that are dependent on plants for food. Solar energy is also used in agriculture since crops mature in sunlight. It is an inexhaustible source of energy, posing no potential threat to the environment. It has the potential to produce extensive amounts of energy. Solanki (2009) reports that the earth intercepts a power of 1.8 x 1011 MW, which is thousand times greater than the current usage of power from other sources of energy. Solanki also asserts that the modular nature of technology permits steady implementation and is easier to finance. Solar energy is available to everyone without any geographical constraints, as compared to fossil fuels, whose availability is localized. Solanki (2009) observes that this fact gives individuals a chance to produce his or her energy depending on the requirement, in a place that matches his or her convenience. Solar energy also has benefits for countries like India in terms of the evenhanded accessibility in social growth. Photovoltaic (PV) technology is able to generate a voltage when a radiant energy falls on it. Therefore, it can make power available to everyone, anywhere in the world. Solar energy can be harnessed by chemical processes, like photosynthesis, thermal processes and through photovoltaic processes. Capturing solar energy needs equipment which has a high initial capital cost. Despite the high cost of the equipment, solar technology is worth investing in, since over the lifetime of the equipment, the technology can prove to be cost competitive. This advantage is buttressed because there are no returning fuel costs as compared to conventional energy technologies (Ghassemi, 2009). According to the World Bank and the World Bank Group (2009), solar energy is the fastest growing renewable energy industry in the world. Much of the modern technology in solar energy is attributed to the space race in the US (McKinney, Schoch, & Yonavjak, 2007). Solar energy can be captured by two main technologies. One is the PV systems, whose function has been mentioned above, and the second technology is concentrated solar power. Solar panels are made up of arrays of PV cells. Crystalline silicon is cut into smaller pieces that are less than a centimeter. They are then polished and treated to repair any damage that has been incurred on the silicon disc during the slicing process. After polishing, dopants and metal conductors are applied to the discs. The conductors are arranged in an ordered grid, and are made to face the ground. A further layer of glass is further added, and the panel is then attached to a substrate to prevent overheating of the panel. A different type of solar panel involves the usage of amorphous silicon (Solar Panel Info, 2010). Solar panels generally encompass the photovoltaic effect to convert radiant energy to electrical signals. The process of the photovoltaic effect is as follows: photons in sunlight hit the solar panel and are absorbed by silicon; as a result, electrons are displaced from their position and become free to move. Their unidirectional flow generates an electric current. Consequently, a collection of solar cells converts radiant energy into direct current. At the same time, CSP or the concentrated solar power, or solar electric thermal, uses mirrors to capture sunlight. CSP make use of the rays of the sun to heat a fluid. The receivers that collect the sun’s rays convert it into heat. This heat can then be utilized for to drive generators through steam turbines or heat engines. CSP is much cheaper than its PV counterpart, and offers the most potential to create base-load, large-scale power to replace fossil power plants. However this technology needs water to cool the turbine. This can present as a problem in areas where water availability is low, but the sun shines through out the year, such as in deserts. CSP also requires direct beam sunlight and it is cumbersome to transport infrastructure for setting up CSP technology in areas with bad topography. Compared to CSP, solar PV are fewer standards for location setup and require less time for construction. They are suitable for both distributed generation and off-grid applications. Solar water heaters can significantly limit the use of gas or electricity to heat water and buildings (World Bank & World Bank Group, 2009). Water and buildings can be heated through both active and passive means. A passive system of solar heating absorbs and stores heat directly from the sun, like window panels, and transmit heat to wall, bricks etc. An active system of solar heating uses a fluid that absorbs heat through collectors that face the sun. The heat collected can then be stored or be used directly. China is one of the leading exporters of solar heating applications. Solar collectors are also used to heat water and for space heating. A flat-plate collector is one of the simplest forms of solar collectors, and is made up of a coiled metal pipe that is attached to a metal plate and put in a glass-fronted box. Solar absorption is maximized by painting the collector matt black and conduction losses are kept to a minimal by using an insulation material under the plate (Beggs, 2009). Despite the many advantages of solar energy, solar energy also has some limitations. The initial cost of setting up a solar panel is a major factor that discourages people from opting for it over fossil fuels. High costs are due to the silicon and other semiconductors that are used in constructing it. CSP and PV have a large range of future cost predictions, depicting the large degree of uncertainty associated with the trend of solar costs evolution (National Ac National Academy of Science & National Research Council, 2010). Moreover, solar panels require large spaces to be setup and for their operation. For the maximum capture of solar rays, solar panels need to be put up in places where light falls directly. Also, differences in latitude can lead to difference in the amount of electrical energy produced, since the light rays falling on the earth can vary with latitude. Reliability of solar energy depends on availability of sunlight and so it cannot produce electricity during the night; moreover, storage and backup are necessary for solar energy (Rizzuti, Ettouney, & Cipollina, 2007). Thus in conclusion, solar energy is gaining precedence in view of the energy crisis that the world faces today. This is not only because of its free supply but also because of its long-term uses and minimal environmental effects. Solar energy offers a lot of potential to overcome the scarcity of energy non-renewable reserves. PV power generation only at roofs and facades can help meet fifty percent of the electricity requirements (Goetzberger & Hoffman, 2005). Despite its advantages, the future of solar energy is in the hands of the consumers. However, this should not let us lose sight of what solar energy can provide (Würfel, 2005). The economic potential in industrialized countries, and the shift towards more renewables-intensive industry in both the US and China, is an optimistic sign for solar energy. Reference List Beggs, C. (2009). Energy: Management, Supply and Conservation (2nd ed.). Oxford: Butterworth-Heinemann. Caldicott, H. (2007). Nuclear Power Is Not The Answer. Retrieved from http://calitreview.com/19 Choppin, S. (2009). Global oil reserves and fossil fuel consumption. Retrieved from http://www.guardian.co.uk/environment/datablog/2009/sep/02/oil-reserves Ghassemi, A. (2009). Solar Energy: Renewable Energy and the Environment. Florida: CRC Press. Goetzberger, A. & Hoffman, V. U. (2005). Photovoltaic solar energy generation. Freiburg: Springer. McKinney, M. L., Schoch, R. M., & Yonavjak, L. (2007). Environmental science: systems and solutions (4th ed.). Massachusetts: Jones & Bartlett Learning. Miller, G. T., & Spoolman, S. (2009). Living in the Environment: Principles, Connections, and Solutions (16th ed.). California: Cengage Learning. National Ac National Academy of Science & National Research Council (2010). Electricity from Renewable Resources: Status, Prospects, and Impediments. Washington D. C.: National Academies Press. Rizzuti, L., Ettouney, H. M., & Cipollina, A. (2007). Solar desalination for the 21st century: a review of modern technologies and researches on desalination coupled to renewable energies : [proceedings of the NATO Advanced Research Workshop on Solar Desalination for the 21st Century, held in Hammamet, Tunisia, 23-25 February 2006]. Dordrecht: Springer. Şen, Z. (2008). Solar Energy Fundamentals and Modeling Techniques: Atmosphere, Environment, Climate Change and Renewable Energy. Istanbul: Springer. Solar Panel Info (2010). How are solar panels made? Retrieved from http://www.solarpanelinfo.com/solar-panels/how-are-solar-panels-made.php Würfel, D. P. (2005). Physics of solar cells: from principles to new concepts. Weinheim: Wiley-VCH. Read More