Solar Energy, Opportunities and Challenges

The fundamental economic reality of fossil fuels is that such fuels are found only in a relatively small number of locations across the globe, yet are consumed everywhere in the world. The economic reality, by contrast, is that solar resources are available, in varying degrees, all over the world. Fossil fuel and solar resource use are thus poles apart – not just because of the environmental effects, but also because of the fundamentally different economical, logical and differing political, social and cultural consequences. These differences must be acknowledged if the full spectrum of opportunity for solar resources is to be exploited. Solar Energy a clean renewable, never-ending and sustainable resource with zero emission has got tremendous potential of energy which can be harnessed using a variety of devices. With recent developments, solar energy systems are easily available for industrial and domestic use with the added advantage of minimum maintenance. Solar energy is becoming more economically attractive as the government steps in, technologies improve, and the cost of electricity generated by fossil fuels rises. This development in solar energy is not without constraints as storage, location, space etc. are some of its constraints. These challenges can be curbed or minimized if recommended solutions to these challenges are implemented. The actions these players take will determine the solar sector’s scale, structure, and performance for years to come. This paper analyzes the innovation, opportunities and challenges of solar energy as an infinite source for power generation globally.

Keywords: Solar Energy, Photovoltaic, Challenges, Opportunities