The solar economy is spreading enormously every year, but fossil fuels remain to be eliminated from the industry. It is disappointing to be told by people that renewable energy is not at all prepared to take on fossil fuels by means of powering our country.
We have made a list of reasons why solar is beating fossil fuels!
Firstly, there are more people in America working in the solar energy marketplace than mining coal. Solar is growing more than 10 times quicker than the U.S. economy put together.
The solar industry employs more than coal and that division is increasing every day. In 2012, solar added a further 14,000 new jobs up 36% from 2010 and the industry had increased its jobs to 20,000 last year. The fossil fuels industry ceased 4,000 jobs in 2012. Consequently, the solar sector is winning.
Solar panels have seen a persistent drop in prices over the last three decades and in the last several years that drop has been very sudden. Since 2008, the price tag of coal has grown by 13 percent. In some sections of the market, solar has already reached parity with coal.
With the price of solar descending very quickly, installations are rocketing at a thrilling and dramatic rate! Last year the U.S. became the fourth country to have 10 gigawatts of solar energy volume, with installations expanding at a rate of 50% yearly for the last five years, that rate is predicted to rise to around 80 percent this year.
Whereas, fossil fuels have been an infinite part of investments for many years, their power may be shutting down.
Derry Newman, CEO for Solarcentury, said: “When you reach grid parity, you have a watershed moment where the perceptions of investors and consumers shift. People have been programmed to believe solar is expensive and takes a hundred years to pay back, but when parity arrives people realise it takes 8-10 years to payback, and they can then be making money out of it.”
The Future For Solar Power Has Just Begun.