The use of solar power doubled globally in 2016 and is on track to double again over the next two years.
As nations and economies signal their intention to move away from the widespread and indiscriminate use of fossil fuel, the solar power industry is leaping into the breach, growing exponentially while an old-guard oil industry studies how to jump on the bandwagon without impacting the bottom line of shareholders and investors.
The implementation of solar energy is rapidly spiraling upward, as current annual production estimates calculate some 305 gigawatt-hours produced globally, an enormous increase from 2010’s 50 gigawatt-hour figure.
While current total global energy output is measured in the hundreds of thousands of terawatt hours, the small solar percentage is expected to fuel its rapid adoption as a global energy source, according to a CNBC report.
“Solar is growing exponentially, is what I don’t think people realize,” according to Norway-based energy executive Steve O’Neil.
“Every two years, the installation rates are doubling and so it’s happening around the world now very quickly,” he said, cited by CNBC. …