Solar Rooftops: Fastest Growing Source of Electricity.
Why waste the roof space, and not make your living environment a better place?
Solar energy is the cleanest and most abundant renewable energy source available, if taken full advantage, enough to sustain our entire planet. It can also be easily tailored to most urban energy needs. Hence, URBAN RENEWABLES supports the engineering of urban scale solar systems.
Solar energy is mainly harnessed through the use of photovoltaics (PVs) that allow particles of light to knock away electrons from atoms, creating electricity in the process. Another method will be through solar thermal capture, where concentrated solar energy is used to boil water to produce steam which then turns an electricity turbine. Solar power is able to generate power at a level where cost and performance is equivalent to — or even less than — the electricity generated by fossil fuels.
With the increased competition in the solar power market and low manufacturing prices of the panels, the cost of solar power had fall an impressive 85% since 2010. While its energy generated only accounts for around 2% globally in 2018, it was also estimated to have increased by 22% in 2019, to 720 TWh. With this increase, the solar PV share in global electricity generation is now almost 3%, last reported in June 2020. Additionally, provision of government incentives and tax rebate policies are also added to push rooftop solar installations to become cheaper than before. The rooftop solar market is estimated to grow with increasing installed capacity, and is expected to grow at a CAGR of around 8.5% during 2020 to 2025.
URBAN RENEWABLES pinpoints from the analysis of geographical segments, technology, modules and application to recognize prevailing opportunities for growth within the solar rooftop market, ensuring high returns of investments.