The growth in the solar energy sector is evident over the past few years. At the same time, fossil fuels are losing their power. It is no longer correct to assume that solar is not ready to phase out fossil fuels as a source of energy across the world. There have been such advancements in the field of solar energy production and facility installation that it has led solar becoming a major competitor for fossil fuels. Let us check out some major reasons that have changed the scene.
Impact on the environment
Fossil fuels have damaged our environment to a great extent. Not only are water sources polluted through their use, but air pollution has also reached at danger levels. Coal dust and combustion waste are major causes of respiratory and other serious diseases in humans. The release of greenhouse gases due to the use of fossil fuels has been eating up our ecosystems.
To control such situation of toxicity in the environment, it is highly important to move toward cleaner energy sources. Since sunlight is vastly available at several locations across the world, solar energy has been fast replacing the damaging fossil fuels. It is a safe and natural energy source that can reduce the impact on environment.
Cost effectiveness
As solar is picking up, the prices for solar panels have also gone down drastically. On the other hand, coal and other fossil fuels have seen a meteoric rise in their prices. Thus, several countries have been adopting solar as an economical option to generate power. While some government subsidies are required currently to spend on solar, the situation would soon alter if its prices keep going down like this.
Increased capacity
As the cost of solar equipment has been reducing, its installation has picked up in developing, as well as developed countries. Due to this every-increasing capacity, solar has been quickly replacing fossil fuels as a source of energy.
More jobs and investment
It is incorrect to assume that solar may take away the jobs of those involved with fossil fuels. This is simply because solar has become a major market where investors are putting in huge money and making it a sector that has been creating innumerable jobs. In fact, solar has more people employed as compared to fossils fuels.
Solar is an upcoming market that is not only reducing the energy production costs and environmental impact, but is also attracting higher investments. It is creating more capacity as compared to fossil fuels that is causing it to replace fossil fuels at a fast rate.
