Solar Economy

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Solar ECoNomy Solar-based production with high overall system efficiency Hydro Ocean Geothermal karin wikman Sun Development Manager, Tekes – the Finnish Funding Agency for Technology and Innovation Wind Bio Nuclear tomorrow Nuclear today Infinite fuel resources Emissions free production that is produced with the current model. New, cleaner and safer forms of energy production will inevitably gain ground. The more critical these factors are for each industry sector, the faster they will start utilising production forms like solar electricity. The International Energy Agency (IEA) estimates that solar energy will cover the majority of the world’s energy needs already by 2060. The main factors in the profitability calculations are the solar radiation conditions at the installation site and the comparable average price of grid electricity. In southern Italy, the cost of solar electricity for the consumer is already competitive with the price of grid electricity – even without subsidies. As the price of solar electricity continues its rapid decline and the prices of other production forms rise, the profitability point will quickly roll to the north. The most recent estimates indicate that grid parity for consumers will be reached in most of Europe by 2020. ”The purpose of the EU’s Strategic Energy Technology Plan is to accelerate collaboration in energy technology development. In this context, experts from industry and the research community have prepared six European Industrial Initiatives, which define the 2010–2020 targets for each specific technology area. It is estimated that 15% of Europe’s electricity could be produced with solar power and 20% with wind power by 2020. Solar electricity markets have grown by an average of 50% a year throughout the 2000s; few sectors have seen numbers like this. About 80% of the installed solar electricity capacity and markets are in EU. However, research and development must find solutions to key issues, like how to build smart and efficient comprehensive systems. Solar Economy’s development needs are related to new, more efficient solutions and materials, energy storage and new systemlevel solutions. Businesses that are networked, international, agile and have the will and the drive to grow will succeed in Solar Economy.” Fortum forAgendA 7

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