Title Solar energy—10 reasons why oil prices should not deter solar energy deployment
Dr. Jennie S. Hwang
H-Technologies group
Solar energy—10 reasons why
oil prices should not deter
solar energy deployment
As alluded in my column “Solar Energy— our next generations will live in. Plausible on the U.S. economical stability, as well as
Sweet Spot” in Global Solar Technology’s steps to globally curtail the emissions are national security.
inaugural issue and my last column, “Solar warranted. On top of the supply-demand, oil prices
Energy—Photovoltaics (PV),” oil prices bear other influences, such as political,
should not dictate the future of renewable 2. Oil contributes a miniscule economical and value-of-dollar factors. The
energy. Amid the turbulent events in the percentage of U.S. electricity recent volatile oil prices in the U.S. further
tumultuous 2008, oil prices have moved generation exacerbate energy concerns.
more eruptively than a tsunami-like tidal Electricity and transportation sectors Energy independence, which is inex-
wave. In less than six months, its prices consume the majority of the total energy. tricably woven with national security, is
have swung from surging to nearly $150/ Within the electricity sector, the burning pivotal to any country.
barrel (July 2008) to pummeling below of fossil fuels generates 85% of the 13
$40/barrel (December 2008). What an terawatts of electrical energy used globally. 4. Manage rising energy demands
unprecedented event! Energy sources used in generating electric- Energy demands will continue to rise,
Psychologically, the declined oil prices ity in the United States (2006) roughly particularly in the large, populous develop-
may dampen the enthusiasm about the comprise 49% coal, 21% natural gas and ing countries. At the present time, China is
solar energy and other renewable energy other gases, 19% nuclear, 7% hydroelectric, going through a growth cycle. The country,
sources. Yet, in reality, it shouldn’t. The less than 3% other renewable and less which consumed more than 15% of
following delineates, in brevity, the top ten than 2% petroleum. Oil enjoys a miniscule total oil consumption among the devel-
reasons. share of electricity generation sources in oped economies in 2007, is now slowing
the U.S. down. Today’s global economic weakness
1. Solar is a clean energy, oil is not (protracted recession or likely depression)
Energy usage affects the environment and 3. Work for U.S. energy does not boost oil consumption. OPEC is
climate. Whether one believes in or is con- independence already cutting production. With the re-
vinced or not that human activities have The United States, with only about 5% of duced production, oil prices are still hitting
caused or contributed to global-warming- the world population, consumes roughly the ground floor.
ensuing climate change, the carbon dioxide one-fifth of the world’s total energy. And However, despite the recent financial
concentration in the atmosphere has risen two-thirds of U.S. oil consumption resorts woes and economic downturn, China and
about 40% since the beginning of the to imports. Higher oil imports not only India will continue their industrialization
industrial revolution. The estimate is the enhance OPEC’s monopoly power, they march. Their commerce will grow and
change from 270 parts per million (ppm) also have a deleterious long-term impact accelerate again. Thus, over a reasonable
to 380 ppm. timeframe, their energy demands are ex-
Coal, a main source of U.S. electric- pected to grow at a phenomenal pace and
ity, produces more than one third of U.S.
carbon dioxide emissions. Combining oil,
“Energy independence,
magnitude.
When demands rise again, and the
coal and gas fossil fuels, the U.S. emits
which is inextricably
supply-demand imbalance recurs, oil prices
more energy-related carbon dioxide per will react accordingly.
capita than any other industrial nations,
woven with national
and its CO2 emissions are projected to
security, is pivotal to any
5. Global support for clean energy
continue rising, as are the worldwide It has long been a belief that the wide
emissions. This trajectory is a concern to
country.”
deployment of renewable energy relies on
the environment and climate that we and the government’s initiatives and financial
24 – Global Solar Technology – November/December 2008 www.globalsolartechnology.com
issue_2.1.indd 24 2/22/09 9:40:03 PM
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