Solar energy—10 reasons why oil prices should not deter solar energy deployment Solar energy—10 reasons why oil prices should not deter solar energy deployment
incentives. Indeed, government plays a cru- tion energy.
cial role to the adoption and application
“It is not an exaggeration
The strategy and action to meet future
of solar energy as an environment-friendly, energy demand can only be accomplished
renewable energy source. to say that the product by the combined actions of energy conser-
In the global landscape, the EU sets its
goal to increase renewable energy penetra-
delivering grid-parity
vation, energy diversification (fossil fuel,
alternative energy and renewable energy)
tion in the region of 27 member states to
performance will sell by
and technological advancement.
19% by 2010 and to reduce its greenhouse
gas emissions by 20% by 2020. Germany, a
itself. ”
Additionally and separately, U.S. utili-
ties welcome the realization of ‘smart grids’
leader in solar cell energy use, is encour- that can improve distribution and monitor-
aged by its government’s goal to increase ing of electricity use in real time, by means
100 MW/yr and incentives to build plants 8. Technology advances in a of intelligent, digital technology, to garner
producing solar energy products. globally competitive landscape higher efficiency and lower cost.
Japan, another leader in PV technology, Technologically, the global efforts on
sets application targets of an increase in increasing the solar cell efficiency are ever 10. A good thing
PV electricity generation by 400MW/yr more rigorous and vigorous. The scale Under such dynamic environment, the
through 2010. The China government has effect, coupled with anticipated technologi- challenge is how to cut through the noises
pledged $100B allotments on renewable cal advancements, will continue to move and keep the eye on the ball – the real
energy to make renewable energy account solar-cell-generated electricity toward grid signal.
for 15% of total energy supply by 2020. parity. The fulfillment of diverse, versatile and
Taiwan’s government has also designated The cost as gauged by the power secure energy sources by maximizing the
solar energy (and LED) as a strategic indus- output by manufacturers in US$/W or use of clean, renewable, environment-be-
try, committing to increasing its produc- by energy use in the end market in US$/ nign and climate-friendly solar energy will
tion capacity, subsidizing manufacturers’ KWH has been exceedingly higher than make all feel good and responsible—users
R&D and offering incentives to consumers the conventional electric grid. This cost and producers, government and commerce
who use solar panel energy. Other coun- issue, including upfront system installation alike.
tries also follow suit. expenses (balance of system), has been the It is a good thing!
primary impediment to the wide adoption Is there any reason not to embrace solar
6. U.S. Federal energy plan engages of photovoltaics for past 40 years. energy?
in clean energy Going forward, as manufacturing capac- Lastly, would the declining oil prices
President Obama’s economic stimulus ity continues to increase and production dampen the future of solar energy this
package focuses on ‘green infrastructure.’ techniques to improve, the expanded scale time around? I certainly hope not, and it
The new administration’s energy plan, as and enhanced manufacturability will drive definitely should not.
of the time of this writing, reportedly pro- the cost down.
vides $15 billion a year for green policies When the technology can offer the
and technology. President Obama favors cost with the grid parity or closer to that,
raising America’s use of renewable electric- photovoltaic solar energy will become an
Dr. Jennie S. Hwang has been inducted
ity to 10% of the total electricity consumed essential part of mainstream electricity in
to the WIT International Hall of Fame,
by 2012, and to 25% by 2025. It is cur- everyone’s life.
elected to the National Academy of
rently at the level of approximately 8.4%. The winning technology is the one that
Engineering, and named an R&D-
Going forward, the anticipated fees can deliver the practical, desired econom-
Stars-to-Watch (Industry Week). Dr.
and taxes for carbon dioxide emissions ics. The world is longing for the winning
Hwang has extensive experience in global
(through cap-and-trade or other programs) technology and product leadership. In
market and international business in her
may spur more efforts in developing and that, it is not an exaggeration to say that
executive capacities with both Corporate
using clean energy. the product delivering grid-parity perfor-
America and entrepreneurial businesses.
Political environment merits alternative mance will sell by itself.
She is a member of the U.S. Commerce
energies and renewable energy. The global race for an economically
Department’s Export Council and serves
viable technology is on.
on the board of Fortune 500 NYSE
7. Solar incentives are in place
companies and civic and university
Effective January 1, 2009, the U.S.’s eight- 9. Positive, global outlook
boards. Among others, she has served on
year tax credit incentive for solar offers To achieve an energy-efficient economy,
National Research Council’s “Global-
further support specifically for solar energy future energy portfolios need to be con-
ization Committee” and “Forecasting
uses by home owners and businesses. cocted by diverse sources and versatility
Emerging, Disruptive Technologies Com-
President Obama’s New Energy for in order to meet the goals of availability,
mittee.” Her education includes Ph.D.,
America plan may also energize the poten- supply stability, price stability, affordability,
M.S., M.A., B.S. degrees in engineering
tial deployment of renewable energy. sustainability and security.
and sciences, respectively, and Harvard
By integrating with other renewable, al- The potential market is vast, albeit
Business School Executive Program. An
ternative and conventional energy sources, bumps and humps exist. Technology ad- author of 300+ publications, she is also
the uncertainties surrounding energy sup- vancement to increase photovoltaic solar a worldwide speaker on trade, technology,
plies from politically volatile regions can be energy conversion efficiency and thus to business, education, and social issues.
eschewed. Solar, as a ‘clean’ energy, further decrease usage cost will continue to be the Tel: (216) 839-1000;
circumscribes the much concerned carbon thrust for the future deployment of solar E-mail: JennieHwang@aol.com.
footprint. energy for generating electricity, as well as www.JennieHwang.com
potentially for supplementing transporta-
www.globalsolartechnology.com Global Solar Technology – November/December 2008 – 25
issue_2.1.indd 25 2/22/09 9:40:04 PM
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