Browsing: Solar Power Industry

Solar Power Industry to GenerateUS$372 Billion by 2027 www.theexchange.africa

Solar photovoltaic (PV) systems are less expensive and easier to construct than other renewable energy sources, such as wind or hydroelectric turbines.

They also generate electricity at an efficiency of approximately 42%, which is about two percentage points higher than the efficiency of wind turbines.

The ever-increasing need for energy, the ongoing push to lessen reliance on fossil fuels for the generation of power, as well as financial incentives and regulatory support for the expansion of solar photovoltaic (PV) technologies contribute to this trend are all drivers that are propelling solar energy forward.

In addition to the low installation and maintenance costs, other drivers propelling solar energy forward include rising energy demand.

This decision comes at a time when South Africa is still struggling with catastrophic power outages and is also attempting to transition away from its reliance on fossil fuels. Causing businesses to steer clear of relying on Eskom, the struggling state-owned utility of the country, for their electricity needs.

Eskom blackouts can last up to six hours, which causes production delays and damages sales.

Eskom, the troubled power corporation responsible for providing most of South Africa’s electricity, has had a challenging time keeping the lights on for many years and has been forced to apply load-shedding to prevent the grid from collapsing.