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Solar energy may be free, but converting it into electricity is not.
The price of purchasing and installing solar panels are a massive investment, match this with the recent low prices of fossil fuels and solar energy will continue to struggle to get its rightful place in the global energy mix. Currently, solar power accounts for less than 1% of electricity generation worldwide.
A recent estimate shows solar power will be the biggest source of electricity by year 2050. Clearly, solar power is the most abundant among all energy sources. And environmental agencies have been working hard to promote the focus on renewable sources. But even accounting all this plus the recent solar technology advancements making it more affordable, can solar power really shine its way to the top in 35 years?
BLOOMBERG, Oct 29, 2014 – Every time fossil fuels get cheaper, people lose interest in solar deployment. That may be about to change. See the full article at bloomberg.com