More Solar Power Wanted ASAP
from the sun-ra dept
A new report put out by the US petroleum industry warns that conventional energy sources will not be able to keep up with rising demand over the next 25 years. As such, the high energy prices that we’re seeing today could stick around. Stark warnings such as this one aren’t particularly uncommon, although not all studies are so pessimistic. Still, it’s forecasts like this that are driving the high level of investment into alternative energy. However, despite all of the enthusiasm over it, solar energy isn’t even close to moving the needle in terms of global (or national) energy consumption. Even the optimistic forecasts call for it to supply 2-3% of US energy use 25 years from now. The caveat is that if there are some major breakthroughs in solar technology, it could take off much more rapidly. Considering how much investment there is into the space, some breakthroughs are likely. It’s also worth bearing in mind that these forecasts aren’t set in stone by any means. Forecasting anything remains an inexact, if not counterproductive, science. But as long as energy is expensive, as it is today, companies and investors will look for ways to bring more of it to market.