In recent years, the world has become increasingly concerned about the sustainability, the environmental impact and the rising cost of conventional energy sources such as fossil fuels. These concerns have spurred global demand for alternatives that are renewable, environmentally friendly and have the potential to be less expensive. Solar energy has emerged as one of the most viable options based on its reliability, minimal impact on its surroundings and logistical advantages, as well as its broad geographical application compared to other renewable energy sources.

Over the long term, the solar PV energy industry is expected to experience significant growth driven by continued growth in the demand for electricity worldwide, the increasing preference for renewable energy sources and solar’s advantages over other “clean” alternatives. This growth is being supported by hundreds of billions of dollars of investment and governmental commitments to increasing the proportion of energy generated by alternative means. Moreover, as related technologies improve and output in the various segments of the value chain increases, solar PV energy is becoming more economical.

^1,2 Refer to the Endnotes