From August 2017,

In the year 2016, solar power technology did a comeback — from traditional and cheaper panels to newly designed, innovative and reliable panels in form of road, roofs which are powered by solar technology.

This advanced technology and its innovation is not only applicable on small scale but it can even provide power to an entire island. We have stepped into a new era of solar energy with these advancements but the race of innovations is not going to end here.

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The head of research, technology and innovation of a French energy company named as Engie SA, Mr. Thierry Lepercq said that solar power technology may rise in future. While being interviewed by Bloomberg he said, “The promise of quasi-infinite and free energy is here”. He doesn’t talks regarding environment but cost factor.

According to Lepercq:

“Solar, battery storage, electrical and hydrogen vehicles, and connected devices are in a ‘J’ curve. Hydrogen is the missing link in a 100 percent renewable-energy system, but technological bricks already exist”.

He believes that solar power technology is cost effective and if we talk about the sunniest place of the world, cost/megawatt can be lower than $10.  The prices of oil are expected to drop as the result of excessive use of renewables. Lepercq said:

“Even if oil demand continues to climb until 2025, its price could drop to $10 if markets anticipate a significant fall in demand. As carmakers offer more electrical vehicles with a range exceeding 500 kilometers, charging stations being progressively deployed and more cities banning gasoline and diesel cars, a shift will progressively take place.”

In the present era we are heading towards innovations and away from the traditional and the coal based energy sources. In future coal based sources could be more expensive. Actually now people had stopped considering energy renewables as expensive sources.

Solar Power Shines

Mr. Lepercq isn’t the only one who is seeing the cost factor of renewables. According to a report published by the WEF (World Economic forum) the price of solar power is very less as compared to that of fossils fuels.

The renewable energy sources like wind and solar technologies have increased the efficiency in recent years which is very helpful to achieve socket parity, economic competitiveness. This increased efficiency is enough to achieve the increased rate of cases too. For example the, unsubsidized, levellized cost of electricity (LCOE) for solar photovoltaic (Utility scale) is decreased at compounded rate i.e. 20% annual. This LCOE was very tough to compete five years ago but now it has been achieved. This declined cost had made solar power more attractive as compared to coal in many countries.

All this is because of increased popularity and use of solar technology. Innovations prospered. Both the private & nations organizations were behind this technology and large-scale solar infrastructure’s construction can be seen.

Now we have supercomputers which run on solar power, we have also built a largest desalination plant powered by solar energy. Our crops are now grown by a farm that uses solar power and seawater. And in future, solar power technology will get better and its applications will get more advanced. Indeed, free energy is waiting ahead.

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