What is the future of solar energy? Economic and policy barriers

ABSTRACT

The most important characteristics and limitations of solar energy were reviewed in this study. The analysis of different aspects indicated that the most important global challenges of solar energy development were climatic challenges, technical constraints, and unwillingness to make investments. After describing current conditions and predicting the future of solar energy, this study analyzed the policies formulated by developed countries to develop this from of energy. Accordingly, China has gotten ahead of other countries in this industry due to the technological production of solar panels and governmental supports. Finally, the economic estimation of solar energy was presented by dealing with the economic barriers to this form of energy in developed countries. According to the significant growth in the reduction of solar energy electricity production cost, this source of energy can be used as a major source in the future. It was then recommended to use a hybrid of solar energy with other sources such as wind to reduce the costs.

KEYWORDS:

• China
• energy economics
• India
• solar energy
• USA

Acknowledgment

This research is supported by Foreign Experts Affairs Bureau of Henan Province.