Why Solar Energy?
Today, as environmental awareness and rising oil prices put pressure on society, the potential of emerging solar energy technologies that directly utilize the nearly limitless energy of the sun is both desirable and economically feasible.
In 2005, the amount of electricity generated by photovoltaic systems increased by 56% around the world. At the average of $8.00 per watt, this is a worldwide $12 billion investment in the solar energy markets in 2005 alone. Due to this market growth and increased capital for research and development, production costs for solar electricity are decreasing by five to seven percent per year. Worldwide, solar currently provides less than one percent of electricity demand but is projected to supply 26% of the worlds consumption by 2040. This industrial transition will occur as solar generated electricity becomes cost effective throughout the United States and much of the world.