A Place in the Sun for Solar Power

October 24 00:00 2011

New York, October 24 (RainbowNewsLine.com) – Solar power used to be viewed as a costly mainstream source of energy but not any longer as its cost is now coming down. Office buildings are now being provided with solar panels and large solar panel “farms” are being erected by utilities near big cities and in desolate deserts. Even homes are finding solar power more realistic with creative financing plans.

The power generation scenario has transformed with more stress being given on solar energy source than any other power source like nuclear, coal, wind and natural gas. Andrew Beebe, who runs global sales for Suntech Power, a manufacturer of solar panels, says “We are at the beginning of a turning point.”

At the moment, solar power accounts for a very tiny percentage of the total power business but the potential of solar energy is tremendous which is borne out by the fact that the amount of clean energy splashed by the sun on our planet in one hour is much more than what humans use in a year. Moreover, there is no need for spending on a grid for moving power since solar panels can be set up near where people use power.

The high cost of generating solar power has been holding up expansion of this clean source of energy but the financial barriers are falling fast as solar panel prices have fallen by two-thirds since 2008.