Solar Energy ArticlesGE Forecasts Solar Panels will be Cheaper than Fossil Fuels in 5 years Solar power technology is catching up with the traditional methods of generating electricity. These include the fossil fuel technology as well as the nuclear reactors. The breakeven point that may be reached by the solar panel technology to be cheaper than the above stated methods of existing electricity production might be not more than a maximum of three to five years. This is the statement that is done by the global research director of GE (General Electric Company), Mr. Mark Little. In the article that follows this claim, we shall catch up on the explanation. The requirement for the above stated line to be realized and transformed into a day to day reality, the cost of the solar power technology should not be more than 15 cents per kilowatt hour. Mark is very much confident in stating the same. He stated that there are very high possibilities that General Motors shall cross the breakeven point for the same, even before the stipulated timeframe that is quoted. The main thing that motivates the companies of the world to invest into the technology behind the solar panel is the demand of the same in the markets. There are in fact many people who are very much willing to take up solar electricity so that the generation of electricity might be a matter of home production. It is simple yet, powerful one. The average rate for the electricity in the USA for the traditional means of energy production is around 6.1 cents to 18.1 cents depending upon the area of residence in USA. GE, a company that is based in the suburb of Fairfield in Connecticut stated that it had been successful in experiments of the efficiency of the solar panels to make them reach the value of as high as 12.8 percent. This is nothing but the efficiency in terms of the sunlight conversion rate. This is an important factor of measurement of costs since this factor alone is responsible for the reduction of costs significantly even though there is an absence of other subsidies. For the same purpose there will be a manufacturing plant set up by the GE Company in the areas of USA by the year 2013. The company announced in the year about its plans to reduce the cost of solar panel technology and make it available to the average household in USA. The company that GE is going to establish in 2013, as per its announcements will have no more than 400 employees. They shall make the production of solar panels so that they are very well capable of installing them sufficiently to power the homes on a mass scale to up to 80,000 with solar panel installations all over the USA in one year. There is a general trend seen that is followed by the solar panel companies. They are making efforts in order to reduce their costs of operations and also at the same time expand their horizons with a view to expand the solar panel markets. This is owing to the demands of the solar panels and the rate at which it is increasing every year. This will definitely sustain the expansion policies in the industries as per the forecasting done by the various statistical bodies. This will cause the installations to be increasing at a rapid rate like 50 percent every year from 2011. These above stated attempts in solar panel industry, and the facts and figures, makes GE to forecast that the solar panels will be cheaper than the traditional fossil fuels in 5 years down the line. Related articles
|
|
| 28 Church Road, Stanmore, Middlesex, London, UK. HA7 4XR. |
|
| enquiries@solarenergyhome.co.uk | |