Wood, L. (Ed.). (2020, February 24). Global Solar Energy Market Estimated to Grow in Value from $52.5 Billion in 2018 to $223.3 Billion by 2026 – ResearchAndMarkets.com. Retrieved from https://www.businesswire.com/news/home/20200224005676/en/Global-Solar-Energy-Market-Estimated-Grow-52.5
The global solar energy market is expected to jump around twenty percent, reaching $223.3 billion by 2026. As government incentives rise and climate change threats worsen, interest in solar panels suddenly skyrockets. Rooftop installation and decreased water footprint are ultimately responsible for the sudden surge, and the solar market itself is demand driven. The photovoltaic system is simultaneously expected to experience a twenty-five percent increase, which will further benefit the widespread use of solar panels.
This article relates to environmental science because it mentions growing global concern over climate change, as other countries and nations are becoming aware how truly urgent the matter is. This long-awaited realization is responsible for the rising profits solar panel industries are starting to face, thus showing promise for the future environment if more solar energy is used worldwide.
Great write up on this one. That is huge growth in solar. My question is do you think it could happen without govt incentives? I hope that clean energy accelerates. Interesting that it is roof top installation. Do you think that is the best option, or solar farms in the desert, or both?
Thanks for delivering again on this Katherine. Hope you found your topic interesting as you explored it this year. We all want solar to work, but there are some logistical issues that need to be worked out.
Thanks for your comment Mr. Powell! I think before government incentives are tried, larger education about solar energy and its benefits could be useful. Hopefully, if enough homes would convert to solar on their rooftops, desert space could be used for nuclear plants and help spread more forms of renewable energy simultaneously.
Great article. I think solar really is the future. It’s cheap, it’s scalable and we can make it and use it right here in the USA. I wonder if because of the growth you are describing the ITC tax break will be increased.