We have the technology to power the entire planet by harnessing solar energy. Solar is in fact so powerful that it is in the best position to replace even traditional energy generation systems worldwide. What very few people know is that this breakthrough for renewables can even be achieved and fully implemented in a matter of thirty years.
The total global energy usage in 2015 ranging from coal, oil, hydroelectric, nuclear and renewables was 13,000 Million Ton Oil Equivalent, which translates to 17.3 Terawatts (TW) of continuous power during the year.
If we cover 335km2 of land in the Great Saharan Desert with solar panels, even with moderate efficiencies easily achievable today, we will be able to generate more than 17.4 terawatts (TW) of power. This means that a fraction of the Sahara desert (1.2% to be exact) has the capacity to cover all the energy needs of the world with solar energy. The cost of such an undertaking has been calculated at $5 trillion. Although seemingly a large amount, this equates to 10% of the world’s gross domestic product in 2015 and is less than the bail out cost for institutional banks by President Barack Obama during the last recession in the United States. Other power sources, ranging from coal, oil, wind, geothermal or nuclear are unable to compete in any way, shape or form. Nuclear for examples is considerably more expensive as the cost of 17.3 TW is estimated at $52 trillion (10x that of solar) and yet we haven’t even resolved the issues of safety and global uranium supply.
An Increase in Solar Panel Efficiency Alongside a Decrease in Price
Source: Earth Policy Institute (2015)
$313 bn was invested in renewables and other low-carbon forms of energy last year, representing a fifth of total energy expenditure around the world. The market for renewables such as solar has been further supported by steep falls in the price of solar over the past decade. From 2005 to 2015, the average cost for PV systems dropped almost 70%, from $8 per watt (/W) to $2.60/W. Over the same period, US Solar capacity grew an average 57% annually, from 79 megawatts (MW) to 7,000+ MW. This increase in efficiency and decrease in price has catalysed an impressive rise in solar energy investments, which has risen by an average 132% ever year since 2013 and unlocked an extra $10 billion for clean energy generation this year alone. Meanwhile investment in gas-fired power generation, commended as a transition technology towards renewables, fell by 40%.
The World’s Clean Energy Supply by 2030
Source: World Resources Institute (2016)
The future is bright for solar as a renewable energy supply for our planet and we have begun to utilize this technology on our projects as part of our Zero Carbon Footprint plan. Following our vision of creating environmentally safe and sustainable agricultural projects that will last for generations, we are currently developing the infrastructure necessary to meet the demands of projects in Brazil through renewable means such as solar power. This is combined with our venture in neem, a tree that has the carbon sequestration capacity of 12.27 tons per tree, per year.
Clean energy alternatives such as solar are becoming a very real part of our lives as rising investments and plunging costs have catalysed the production of more tangible technologies that the average person can interact with on a daily basis. The word’s energy systems are undergoing a complete reorientation by promoting low-carbon energy sources and greater energy efficiency, and we at Primal Group are helping drive this change across our projects.