With the ever growing energy demand and the need to mitigate climate change, a reliable, cost-effective, and everlasting renewable energy source is the need of the hour.
Solar energy, among other renewable sources of energy, has been inching its way up as a promising energy source to manage long-term energy crises. The sun emits enough power onto earth in a few seconds to satisfy the entire human energy demand for hours. And this is what has helped the solar industry to develop steadily all over the world. Today solar energy has become cost-effective and many homes across the world have adopted this source of power.
According to a report from the IEA, power generation from solar PV in 2020 is estimated to have increased by a record 156 TWh, marking 23% growth from 2019. Solar PV accounted for 3.1% of global electricity generation, and it remains the third-largest renewable electricity technology.
Solutions on offer
Even though turning to solar energy is a crucial step towards sustainability, why is it still a challenge?
A number of factors have been holding back solar panels from becoming a leading source of energy in the world. Lack of awareness of the benefits of switching to this mode is the biggest roadblock.
The first being the cost; the initial capital cost required for installation is still high relative to other energy sources. Solar panels, on average, cost somewhere between `36,000 to `44,000 depending on the model. But there is a positive return on investment (ROI) in the future. Even though it is slow, you can actually sell power to the electricity suppliers.
One of the key barriers in implementing solar power could be space or availability of area. In between all the hullabaloo of city life, people mostly do not have access to terraces or available areas to install solar panels. Even if a person is environmentally conscious they don’t have the resources.
At this juncture, a few potential solutions could be a smart grid system, mechanical way to store energy, initial funds for installation, awareness programmes through digital media, etc. Although plenty of floating policies and ideas have been lined up by the government, addressing the challenges that stand in the way of the progress of solar energy and renewable energy, in general, is the first step to realising their huge potential.
How to go the solar way
One way to go the solar way is installing the panels through a solar plant. Companies for solar plants readily available on the internet, whom you can reach out and get the panels installed at home.
Another way to invest in solar energy is to invest in solar biscuits aka virtual solar grid. One might not have space or a rooftop but solar biscuit is an option you can explore.