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The power of sunlight: incentivizing private investment in solar PV

Susanne Foerster's picture


Photo: Pixabay Creative Commons

Solar power is experiencing a surge in popularity across the globe. It prevents carbon emissions, helps diversify the power generation mix, reduces dependence on fossil fuels, and can increase off-grid energy access.
 
With falling costs of solar photovoltaic (PV) technology, advancing storage technology, and grid integration, prices for solar PV electricity have been falling rapidly around the world and solar is now in many countries price competitive with traditional energy sources and has become particularly attractive for developing countries.
 

​Are we harnessing the power of the sun?

Isabel Chatterton's picture

Also available in: العربية


Are we harnessing the power of the sun? With the success of rooftop solar and other initiatives, we’re beginning to head in the right direction.
 
Photo: Bernd Sieker/flickr

Solar success has come from unexpected quarters. For example, Germany is probably not the first country that comes to mind when you think of sunshine, but we can follow Germany’s lead. It’s the world’s biggest small-scale photo-voltaic user with an installed capacity of 32 gigawatts, and 60 percent of capacity is from solar panels that are installed on people's roofs.

Germany also launched a 100,000 rooftops program, which provided concessional, 10-year loans along with attractive feed-in tariffs to further incentivize households to participate. This was soon after the success of its pilot 1,000 rooftops program, which created the right incentives and targets were achieved a year ahead of schedule – in 2003. 
 
Germany, Japan and the U.S. state of California are fulfilling their strong solar power potential, and we could all learn from their examples – especially nations that haven’t yet explored the proven promise of solar.
 
Statistics like these convince me that there is so much more we can and must do. I’m heartened that progress in India has been steady, with successes that prove the country is ready for more.