Oil is still the king. It’s likely to stay that way for a while, but where there’s a king there’s always someone else looking to get on that throne.
We’ve always looked up at the sun and wondered how the world can harness that giant ball of energy to power the Earth. The reality is it’s already happening and investors are quickly expanding their portfolios to include alternative energy sources or finding companies in the pre-IPO stage to invest in.
According to GTM research back in 2006, solar systems were being installed in the US every 80 minutes and it’s estimated by 2016 a solar PV system will be deployed every 80 seconds. In order to get that type of market share, customer acquisition costs alone will total about $1 billion.
Globally, solar capacity is forecast to be more than 200 gigawatts. One gigawatt can power about 700,000 homes. In 2011, the global solar industry had 50 gigawatts of capacity installed. By the end of 2012, it had surpassed 100 gigawatts.
A country such as Germany already relies on wind and solar power to produce nearly 60% of its energy during the day. India, US and many European countries are also moving aggressively towards solar power.
Beyond the permanent solar system market, portable personal solar is another growing avenue for the industry. People have taken personal solar products to the peaks of the Himalayas, they have powered their laptops in remote locations or even powered their TV’s in their mobile homes. Our need to be constantly connected to our social networks, means our need for portable power will grow with it.
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