Solar energy is the light and radiant heat from the Sun that influences Earth's climate and weather and sustains life. Solar power is sometimes used as a synonym for solar energy or more specifically to refer to electricity generated from solar radiation. Since ancient times solar energy has been harnessed by humans using a range of technologies. Solar radiation along with secondary solar resources such as wind and wave power, hydroelectricity and biomass account for most of the available renewable energy on Earth.
Solar energy technologies can provide electrical generation by heat engine or photovoltaic means; space heating and cooling in active and passive solar buildings; potable water via distillation and disinfection, daylighting, hot water, thermal energy for cooking, and high temperature process heat for industrial purposes.
Solar thermal energy (STE) is a technology for harnessing solar energy for thermal energy (heat). Solar thermal collectors are defined by the USA Energy Information Administration as low-, medium-, or high-temperature collectors. Low temperature collectors are flat plates generally used to heat swimming pools. Medium-temperature collectors are also usually flat plates but are used for creating hot water for residential and commercial use. High temperature collectors concentrate sunlight using mirrors or lenses and are generally used for electric power production. This is different from solar photovoltaics, which convert solar energy directly into electricity.
Photovoltaics (PV) is the field of technology and research related to the application of solar cells for energy by converting sunlight directly into electricity. Due to the growing demand for clean sources of energy, the manufacture of solar cells and photovoltaic arrays has expanded dramatically in recent years. Photovoltaic production has been doubling every two years, increasing by an average of 48 percent each year since 2002, making it the world’s fastest-growing energy technology.
At the end of 2007, according to preliminary data, cumulative global production was 12,400 megawatts. Roughly 90% of this generating capacity consists of grid-tied electrical systems. Such installations may be ground-mounted (and sometimes integrated with farming and grazing) or built into the roof or walls of a building, known as Building Integrated Photovoltaic or BIPV for short. Financial incentives, such as preferential feed-in tariffs for solar-generated electricity, and net metering, have supported solar PV installations in many countries including Australia, Germany, Japan, and the United States.
Solarbuzz, an international solar energy research and consulting company, (www.solarbuzz.com) reports World Solar Photovoltaic Market Growth of 62% in 2007
2007 WORLD PV INDUSTRY REPORT HIGHLIGHTS:
World solar photovoltaic (PV) market installations reached a record high of 2,826 megawatts (MW) in 2007, representing growth of 62% over the previous year.
(1 Megawatt serves 250 households)
Germany's PV market reached 1,328 MW in 2007 and now accounts for 47% of the world market. Spain soared by over 480% to 640 MW, while the United States increased by 57% to 220 MW. It became the world's fourth largest market behind Japan, once the world leader, which declined 23% to 230 MW.
World solar cell production reached a consolidated figure of 3,436 MW in 2007, up from 2,204 MW a year earlier. Japanese producers continue to lose ground, only accounting 26% of global production. Chinese manufacturers raised their share from 20% in 2006 to 35% in 2007. Despite polysilicon production for both solar and semiconductor use rising 30% in 2007, it remained the most capacity constrained part of the PV chain. 21 new entrants started manufacturing polysilicon during the year. Meanwhile, thin film production more than doubled from 181 MW in 2006 to 400 MW in 2007, accounting for 12% of total PV production.
The PV industry raised nearly $10 billion in 2007. 84 identified financial transactions accounted for $7.5 billion in 2007, Of this amount, $5.3 billion came in the form of equity financing, while $2.2 billion came from debt financing. The PV industry generated $17.2 billion in global revenues in 2007.
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