Moving to solar energy is absolutely a great decision that can help you reduce your monthly bills but it is certainly not the main reason to choose solar energy. The big solar movement is first of all about the environment. Moving to solar is a great way to curb climate change, and according to researchers from Stanford’s Steyer-Taylor Center of Energy Policy and Finance, it can really make a huge difference.

According to Steven-Taylor Center researchers, the best way to maximize the solar industry long-term goals regarding climate change, is to have the US and China work together. China is considered to be the dominating manufacturer of solar equipment, while US has been number one in solar technology and development for years. Getting these two empires to work together while each country is capitalizing on its own strengths can achieve a really big progress.

“The Chinese are not only leading the world in terms of the manufacturing of solar equipment, but they are also the largest deployer of solar energy,” said Dan Reicher, a co-author of the report, The New Solar System, and executive director of the Steyer-Taylor Center, which is a joint research center involving Stanford Law School and the Stanford Graduate School of Business. “And they are getting increasingly competitive in the research and development area, which the U.S. has historically been dominating. With a new federal administration and a new Congress, this is the time to be thinking about what we want the U.S. role in solar industry to look like five, 10 years from now.”

 

Right now, solar power supplies about 1% of the global electricity. The International Energy Agency (IEA) predicts that solar energy could grow to 16% by the middle of this century. According to the research, the US government should embrace a global solar industry, continue to invest in research, development and deployment, and most important, prioritize plans to reduce the cost of solar power.

“A lot of money is being thrown into solar energy right now,” said Jeffrey Ball, the scholar-in-residence at the Steyer-Taylor Center and the report’s lead author. “We’re trying to identify public policies and private financing mechanisms that would spend that money more economically and efficiently, scaling up clean energy for all.”

 

 

Source:

National Research University Higher School of Economics. “Researchers offer novel method for calculating the benefits of renewable energy.” ScienceDaily. ScienceDaily, 4 April 2017. <www.sciencedaily.com/releases/2017/04/170404084439.htm>