Is Solar Energy About to Surpass Oil in Cost Efficiencies?
Solar energy enthusiasts, evangelists, and even doubters take note: the energy singularity may have happened and we didn’t even notice.
A new scientific review claims that scientists are using solar panel data that is at least seven years old, and therefore drastically underestimating the efficiency of modern solar power. (Source: “Solar-PV energy payback and net energy: Meta-assessment of study quality, reproducibility, and results harmonization,” Science Direct, November 29, 2016.)
Which brings us to the most astounding claim of all: for every unit of energy invested, solar energy can now generate the same if not more energy than oil and gas. Essentially, this article portends the death of oil and natural gas has arrived. Or at least, has begun.
Of course, there are obstacles. The fossil fuel industry is worth billions of dollars and won’t go down without a fight. Governments are known to be slow when adjusting to new technologies at times, and there are regressive political currents running counter to the green tech revolution. But, according to the information revealed in this paper, it’s only a matter of time now.
The paper first appeared in Renewable and Sustainable Energy Reviews and examines 29 studies that compare the energy generated by solar photovoltaics to the energy needed to create and install the panels.
One of the major takeaways is that solar energy is likely to double in power compared to previous projections, putting it on par with oil.
This is pretty groundbreaking news (or ground-guarding, if it causes oil mining to disappear) that will certainly shake up the future of solar energy and the energy business in general, if all the claims are correct.
Check out this piece for more information on the study, methodology, and otherwise why this could be the true beginning of the green revolution. (Source: “Solar can already generate more energy than oil, says major scientific review,” Insurge Intelligence, December 6, 2016.)