Top 5 Facts One Should Know About Solar Panels

Solar energy has been used for almost 2.7000 years now. Presently it has made our lives more efficient. Solar energy technology came to its use in 1954 when Bell Laboratories created the first viable solar cell. 

Since then, solar has leapt into prominence as the fastest-growing sector. Besides, solar energy provides a lot of advantages. This post will discuss some significant facts that one should know about solar panels in Forbes. 

Facts about Solar Panels Forbes

There are several facts that one should know about solar panels in Forbes. The significant points are the following.

Solar Panel is the Most Abundant Energy Source

Enough solar energy hits the earth every hour to meet all humanity’s power needs for a whole year. Every lump of coal, every cubic foot of natural gas, and every ounce of oil could be left in the ground if we capture one hour’s worth of solar energy every year. For example, if the Mojave Desert gets covered with solar arrays, it would generate more than twice the electricity that the entire US uses annually. 

Solar Technologies are Getting More Efficient

Another fact about solar panels in Forbes is that solar technologies are becoming more efficient with time. According to Rhone Resch, the Solar Energy Industries Association president, solar technologies have been growing at an average of over 40% in the last eight years. It is significantly growing in various sectors like manufacturing and automation. 

Presently most solar panels can convert 15% to 20% of sunlight into electricity. Solar panels’ efficiency has improved significantly and consistently over the past decade. It is a good factor that ensures energy cost reduction. Also, solar panels’ resistance power to extreme weather has been drastically improved. 

Solar Energy is Cheaper than Fossil Fuels

Solar panels cost cheaper than any fossil fuel power plant. However, the most affordable fossil fuel option is natural gas, which costs between 4.2 and 7.8 cents per kWh. Whether solar energy costs 4.3 cents per kWh. The solar energy costs less than diesel, coal, and natural gas. 

Solar Plants Last 40 Years or More

Another fact about solar panels in Forbes is that the plants last 40 years or more. When a solar power plant is built, it is backed by a power purchase agreement that lasts almost 20 to 25 years. But it doesn’t mean the plant will be worthless after two decades. 

Solar power plants last 40 or 50 years, and the infrastructure around the plant provides many benefits. Solar panels can be replaced with new and more efficient modules at a low cost. So, when the site is established and the infrastructure is built, the solar power plant has a very long effective lifespan. 

Minimal Greenhouse Gas Emissions

Minimum greenhouse gas emission is also a significant fact about solar panels in Forbes. The process of solar power generation doesn’t emit any greenhouse gasses. However, other stages of the life cycle produce minimal emissions. According to estimates, the life cycle emissions for solar cell systems are between 0.7 and 0.18 pounds of carbon dioxide.