Solar Power Exponential Growth

Exponential growth also calls for solar pv to outcompete not only alternatives for new investment but also the existing power plants based on costs and value.

Solar power exponential growth.

For example recent deployment of onshore wind highlights that falling costs alone may not lead to ever increasing deployment. Concentrating solar power market to witness exponential growth by 2020 2027 leading players abengoa solar aalborg csp acwa power bright source energy esolar posted on. When solar pv systems were first recognized as a promising renewable energy technology subsidy programs such as feed in tariffs were. The doubling of computer capability every two years.

To simplify i use the capacity growth value for solar photovoltaic panels 0 105 gw 1992 to 405 gw projection 2017 39 14 annual or 2 78 monthly growth as representative for the entire renewable energy mix needed in the future the combined growth rate of wind turbines concentrated solar geothermal etc. During this period of time photovoltaics pv also known as solar pv evolved from a niche market of small. Solar power growth may continue to outpace most conventional projections. We can use the last decade to predict the future prices of solar power.

Ray kurzweil the futurist and director of engineering at google predicts that solar power will grow at an exponential rate throughout the 21st century. Projections for long term us solar power growth vary widely and while most foresee growth moderating from recent exponential rates the potential for continued exponential growth is worth consideration as it has happened with other technologies. In his essay the law of accelerating returns ray believes the growth of solar will resemble moore s law. We can do this because solar power like computing is an exponential technology which follows the rules of exponential.

During this period of time photovoltaics pv also known as solar pv evolved from a niche market of small scale applications to a mainstream electricity source. Nicki zvik founder of green solar technologies a solar panel distribution company headquartered in southern california states with the solar industry growing at such exponential rates it. One of the reasons solar energy could grow 6 500 between 2016 and 2050 the period this report is analyzing is because solar energy is growing from a fairly. Worldwide growth of photovoltaics has been close to exponential between 1992 and 2018.

Not by looking at the cost of solar as a function of time but by looking at the cost of solar as a function of cumulative scale of the solar industry.