Solar Energy

We are living in times of many changes and one of the main ones has been the process that is taking place regarding the transformation of energy consumption worldwide. We are facing a trend that seems irreversible in which the world is increasingly moving away from dirty energies (coal, oil, gas) and towards renewable energies such as solar energy. It is a generational shift in which different regions of the world have decided to align themselves by implementing government plans and policies driven by the criteria of improving environmental, social and governance practices (ESG).

When we talk about renewable energies or also called clean energies, we can find different types. Among them we can mention wind energy, hydraulic energy, geothermal energy, biomass and biogas energy, biodiesel energy and solar energy, among others.
Within solar energy, which is expected to account for the largest percentage of global electricity supply in the coming years, two types of technologies stand out. The first is solar thermal energy and the second is photovoltaic energy. In both cases, the aim is to make the most efficient use of the energy that comes from the sun through the use of solar panels or receivers. Solar thermal energy is mainly used to heat fluids and from this process it can be put to different industrial uses. On the other hand, photovoltaic energy is the direct transformation of solar radiation into electricity.

To be taken into account

The crisis caused by COVID-19 has affected all sectors of the economy; among which the damage suffered by the energy sector stands out. In this sense, renewable energies seem to have stood out in the face of the deterioration caused by the pandemic, as the sector has shown a very significant resilience. Electricity generated by renewable technology has increased by approximately 7% by 2020, which contrasts with the 5% drop in global energy demand. It is estimated that by 2021 the growth rate will be higher than in the last five years; as we can see below, the outlook is very encouraging considering the new solar PV capacity additions for the coming years.

Factors supporting the growth of solar energy

As mentioned above, there are many factors currently supporting and accelerating the growth of the sector. In terms of geography, politics and demand, we can mention the following: