Creating a solar global power system

 A global power system based on renewable energy is a tangible reality. Critics often use lack of storage, as well as solar and wind fluctuations as their major argument to hold on to the old system. This groundbreaking study by the Lappeenranta University of Technology (LUT) and the Energy Watch Group (EWG) refutes this argument. This is the first time a study of this kind was undertaken. Its results prove that the existing solar, wind, hydropower, and battery storage technologies are able to generate enough power to easily power the whole world. They also predict that by 2050, renewables will account for 94 percent of all electricity generation. That’s just a little more than 30 years from now. If political conditions are favorable, it can happen faster than that. The study also claims that 100 percent renewable electricity is more cost-effective than the existing system of power generation, which is largely based on fossil fuels and nuclear energy. 

By 2050 solar panels and storage will be the engine for electricity 

By 2050, solar panels and battery storage will drive most of the electricity generated worldwide, due to rapidly falling costs. Solar power generation is projected to reach 69 percent of the world’s total output, wind energy is expected to grow to 18 percent, hydropower will make up 8 percent, and bioenergy will account for 2 percent of the total electricity by then. The study also states that a global transition to a 100 percent renewable electricity system will create 36 million jobs by 2050. This number is nearly double the 19 million people employed worldwide in renewable energy in 2015. 
 

Prices continue to drop 

It is something that we already knew in the industry. Now enough people around the globe are using solar power that the price of the panels has dropped dramatically, installation costs go down because of advancements and competition. We have reached a point in the industry that if a person, a company, a city, or even a country doesn’t at least explore going solar, then they are basically throwing money away every month. If you want to move into the future and join the solar revolution, or if you want to find out what solar panels are right for you, go to HahaSmart.com and try our price checker tool. You can see how much a system will cost, and how much you can save over the next 20 years. For more information relating to going solar, don't forget to visit our solar blog section for more handy guides and articles.