My life has taken me in many different directions.
From working as an intelligence officer for the American government to consulting for dozens of governments around the globe in the world of energy, I can’t claim that my life has been dull.
However, although my life has taken a trajectory that I may not have expected in my youth, I do truly enjoy what I do.
And when it comes to energy, there are many things that excite me.
One of the most exciting things about seeing and knowing the latest in energy is that it is a constant, ever-evolving industry.
And by that, I mean it is always working to improve itself.
These days, with the oil market in shambles (though, as I wrote last week, it is beginning its recovery), I’ve been keeping an eye on the renewable industry.
In particular, the rise of solar energy has truly astounded me in its remarkable speed and vitality…
Solar from the 1800s to Today
Solar energy has been around since the 1950s, and it had been floating around in the minds of geniuses like Thomas Edison for centuries.
It’s only been in relatively recent years that the dream of harvesting light from our sun and using it as an alternative source of energy became a reality.
Now, solar panels are typically made of silicon, as it is readily available, non-toxic, and a stable material to use to harvest energy from the sun.
Back in the 1950s, silicon solar cells weren’t particularly efficient – they only managed to turn about 6% of the light they absorbed into energy that could be used.
These days, however, that percentage has jumped to just over 20%.
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That was over 30 years of development.
In the technology world, that’s a reasonably quick advancement in efficiency.
But what if I were to tell you that there’s a new material for solar panels that has advanced twice as quickly?
Solar energy is about to get even better…
The Numbers Speak for Themselves
In 2009, a new type of solar panel was developed, and like the silicon solar cells, it had very low efficiency – only 3.8% of the light it absorbed could be used as electricity.
But in late 2017, it was reporting 22.7% efficiency.
That is a 497.3% increase in just 8 years of development.
As far as a technology increase goes, this one flies off the charts.
This impressive material bringing solar energy to new heights is called perovskite, a natural material found in abundance in Earth’s crust.
Solar cells made with perovskite are much easier – and cheaper – to manufacture, making them a valuable and desirable material to work with.
Better yet, these solar cells are so thin and flexible they can be put virtually anywhere, from rooftops to the outside of a briefcase.
Of course, not everything is quite so easy. There are unique challenges to perovskite solar cells, as with anything that is manufactured for use.
But what makes this exciting for me, as an expert in the energy world, is what it represents…
Increased Technology Means Increased Profits
I like to see energy being discussed more outside summits like the OSEA 2018 conference I attended in Singapore.
Energy is multifaceted, and solar power is only one subsection of it. And yet it tends to dominate when it comes to renewable energy.
And for good reason.
The cost of producing solar energy has gone down 99% – going from $76 in its infancy to less than a dollar in 2018.
That comes down to a myriad of factors, all doing their part to make solar one of the foremost sources of energy.
With its technology increasing in usage as it has been, I wouldn’t be surprised if the predictions of increased electricity coming from solar power come to fruition even sooner than we think.
But solar has much more in store for us than simply electricity.
I’m talking about the profit potential in the industry.
As with any new industry that could soar, the solar sector has many opportunities lurking quietly, waiting for the right people to come in and rocket them upward.
And I know what these opportunities are.
You could make a fortune off of the solar energy industry, and all you have to do to learn more about it is click here.
The post The Many Directions and Opportunities of Renewables appeared first on Oil & Energy Investor.
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