Sharp Expects Solar Power Costs to Halve by 2010 - 9/1/06

Japan’s Sharp corp. believes that solar power generation will be cut by half by 2010 and be compared to nuclear power by 2030.  Fossil fuel resources are expected to be totally out by the time that solar power takes over.  It costs about $0.50 per kilowatt hour to produce solar electricity.  That is eight times more than fossil fuel.  Solar power contributes to a small fraction of one percent of the world’s energy however the market is growing at about more than 30 percent.  The industry of solar power expects the production cost to drop by about 5 percent per year.  There is a current shortage of solar-grade silicon which is the raw material that the solar panel uses to catch the suns rays.  This is supposed ease by 2008.  They are supposed to be trying to produce a thinner solar panel which would use less silicon these are not as efficient, however.  It cost about one and a half times more to produce this, however, it is going to have a high demand for specialty items such as window glass.  The sun provides enough energy in one hour to provide the whole world’s energy needs for a full year. 

News Source: http://www.nzherald.co.nz/section/story.cfm?c_id=5&ObjectID=10399197

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