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In 1985 annual worldwide solar power system installation accounted for 21 megawatts of power. By 2004, this had multiplied to an incredible 927 megawatts in new installation power production alone.
he demand for solar produced energy over the last several years hasincreased annually about 25% ,although in 2004 sales were up a whopping 67%from the previous years.
here are several reasons for this increase in popularity for all things Solar Powered.Beyond the obvious environmental considerations and the privilege of not having to rely on power from a grid that is aging and stretched to capacity, solar is getting cost effective.
hiletraditional energy production gets more expensive, technological advances are making solar power cheaper.In 1980 the cost of harvesting energy from the sun stood at about $100 per watt. Literallya hundred times more expensive than the going rate of electricity, these systems were noteconomically viable. By 1999 however, technology had reduced this about $4per watt andcosts have continued to decline by about 5% per year since.
he Return on Investment is becoming very attractive for many commercial organizations and consumers.Efficiencies have been realized in several technologies.
he inverters that transform thecollected DC energy into usable AC energy used to deliver only about 65% efficiency.35% of the collected energy was lost in the transformation process.
oday¶s transformers are soefficient they deliver up to 96% of collected energy into usable AC current. Photovoltaictechnology has also made solar collection far more efficient.
wenty years ago, only 5% of the sun¶s energy hitting a solar charging panel was harvested.
his figure is now in excess of 15% and will continue to climb as more efficient compounds are designed and introduced inthe manufacture of these Photovoltaic Panels.