In 2008, a meeting between G8 members developed a request to establish more detailed information on solar energy on the global scale. The request was met by the International Energy Agency which released their resulting study recently. The group’s study encompassed an array of information vital to solar technology, including the science behind it and the policies and financing required to establish it.
The study focused on both concentrating solar power and photovoltaics technologies. The International Energy Agency determined that concentrating solar power would be more suited for environments such as North Africa, India and parts of North America. This is due to the need of extended periods of time of bright sun. Such systems, according to the agency, would be able to hold its own against both coal and nuclear power by the year 2030.
In terms of solar photovoltaics the agency suggested that governments put more policies in place to give individuals and companies incentives to install units. The agency also suggested greater assistance for developing nations. Currently only four nations have the ability to produce more than one gig watt of energy from this type of solar, however, this is expected to change. The United States, Japan, Spain and Germany are the four countries with the ability to produce over one gig watt.
Concentrating solar power is currently responsible for 0.1 percent of electricity in the world, but is expected to significantly increase. Photovoltaic capacity has increased around 40 percent each year since 2000. Overall, the agency believes that solar energy could produce approximately twenty-five percent of electricity needs worldwide by the year 2050.
