Investment in solar power projects to double by 2015

New Delhi: With investment in solar power projects expected to double in the next five years, photovoltaics could account for nine percent of the global power demand by 2030, according to a study.

Photovoltaics (PV) is a method of generating electrical power by converting solar radiation into direct current electricity using semiconductors.

The study by the European Photovoltaic Industry Association (EPIA) and environment protection group Greenpeace International said that investment in solar projects will increase from 215 billion (around $4,800 million) today to 430 billion ($9,600 million) in 2015.

"Solar photovoltaic is a key technology to combat climate change and to secure access to clean electricity. By 2015, the global market could be twice as big as today, leading to a 430 billion investment. Our goal is to make solar photovoltaic a mainstream power source through more supportive policies around the world," said Sven Teske, senior energy expert at Greenpeace International.Current solar PV global capacity could grow from 23 GW at the beginning of 2010 to 180 GW by 2015, according to the report.

"Solar power can make a massive contribution to global electricity supply, especially in developing countries. By 2030, over 2.5 billion people could benefit from solar energy, but we need political commitment to make this happen," said Ingmar Wilhelm, president of EPIA.The report said that over 1,800 GW of PV could be installed by 2030 and this would save as much as 1.4 billion tonnes in carbon dioxide emissions every year. 

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‘World's biggest' solar power plant planned

Giant mirrors and solar panels in Northern Cape would reduce carbon emissions and generate one—tenth of the country's energy needs South Africa is to unveil plans this week for what it claims will be the world's biggest solar power plant — a radical step in a coal—dependent country where one in six people still lacks electricity.The project, expected to cost up to 200bn rand (GBP18.42bn), would aim by the end of its first decade to achieve an annual output of five gigawatts (GW) of electricity — currently one-tenth of South Africa's energy needs.Giant mirrors and solar panels would be spread across the Northern Cape province, which the government says is among the sunniest 3 per cent of regions in the world with minimal cloud or rain.

The government hopes the solar park will help reduce carbon emissions from Africa's biggest economy, which is still more than 90 per cent dependent on coal-fired power stations. Energy is already a high priority in South Africa where, at the end of racial apartheid, less than 40 per cent of households had electricity.

Over 16 years the governing African National Congress has undertaken a huge national expansion, with a recent survey showing that 83 per cent are now connected, but power outages are still not uncommon in both townships and middle-class suburbs.An estimated 200 foreign and domestic investors will meet this week in Upington, Northern Cape, with a view to funding the hugely ambitious solar project.

A master plan will be set out by the US engineering and construction group Fluor. This follows a viability study by the Clinton Climate Initiative, which described South Africa's “solar resource” as among the best in the world.De Vries, a special adviser to the energy minister, said the Northern Cape had been chosen for insolation readings (a measure of solar energy) that rank among the highest in the world. South Africa currently consumes 45-48GW of power per year. It is estimated this will double over the next 25 years.

“In South Africa over 90 per cent of our power comes from the burning of coal and we need to reduce this because of our international obligations on climate change,” de Vries said.   

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