Solar energy is the safest source of electricity which is generated through solar cells. These cells have more advantages than any other source as it functions without air or water, there is no vibration, does not generate waste and is not harmful to anyone and even mother earth. But how come this is not totally used at present? There were many reasons that implicate the change one is because this is a costly project. However, it is still expected to take its mark in the year 2050 since with the rapid growth in population, the weakening of non-renewable sources and the tremendous effect of pollution will force the global focus to renewable projects.

Advantage: As a Low risk fuel. In comparison to fossil fuel or nuclear energy there is no price volatility as well as risk in the delivery. Though there is an expected variation in the amount of sunlight that is available as in the time of day and season still this can be configured to increase reliability ensuring a long-term and fixed pricing of electricity.

Advantage: Installation is everywhere. It can be installed anywhere as compared with other renewable energy sources such as hydroelectric and wind power. That is due to the fact that sunlight is available anywhere. Likewise it eliminates the expense of transmission and distribution. Residences can greatly benefit from this too.

Legislation Coverage: Energy companies have benefitted with the legislation that is geared towards renewable sources of electricity generation in the United States. With the Congress extension of the 30% federal investment tax credit; residential and commercial installations will gain more from this until end of 2016.

Funded programs: Many governments have increased their financial support for solar energy projects. Among them are India, U.K., Canada, Japan, China, Japan, Australia and even the Middle East.

Wealth knotted on the crude oil: The rise and fall in the stock market for crude oil price is still affecting stock prices of alternative energy.

Weak Points of Solar Energy: The solar energy industry is now facing some weak points as problems of excess solar cell supply are experienced. This is attributable to the slow demand in the market coupled with high inventory.

Stock market effect: Solar stocks of energy companies like LDK Solar, JKS and STR are affected by the aforementioned scenario.

Newly developing technologies: The possibility of certain development of low-cost sources of alternative energy could further affect the solar energy growth.

CONCLUSION:

However, it should be noted that said development could still take years and now solar energy is the best option humanity can use to prevent the effects of pollution and the visible depletion of non-alternative sources of energy. What good would these other alternative energy sources are if the harm has been done and cannot be undone? The future is everyone’s concern let’s act and do our share.