Energy policy experts all agree that we need energy generation for three main activities: transportation, heating and cooling, and to power industrial production. Now a long-time expert from the oil and gas industry says that solar power is gaining potential in all three areas, according to a story in Fortune.
Scott Nyquist is an engineer and energy expert who has worked with oil companies on projects around the world. He notes that solar is becoming a market leader for three main reasons: first, solar is becoming cheaper and more efficient, with plenty of room to improve, while other mature energy options are likely to become less cost competitive. Second, public support for solar and renewable energy remains strong. Finally, sun-rich countries are now taking advantage of their solar resources, leading to new solar developments even in oil rich countries like Saudi Arabia.
Developing countries, where pollution from fossil fuels and other polluting energy sources is a serious problem are also driving adoption of solar technologies. India, South Africa and Kenya are all experimenting with solar programs, including projects aimed at addressing low-income residents.
Still fossil fuels are expected to retain a majority of the energy market: the International Energy Agency estimates that 55% of global energy needs will still be met by fossil fuels through 2040.