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Solar Energy - Myths & Facts

Myth: Solar energy can only serve a tiny fraction of US or world electricity needs.
Fact: Solar photovoltaic (PV) technology can meet electricity demand on any scale. The solar energy resource in a 100-mile-square area of Nevada could supply the U.S. with all its electricity using modestly efficient commercial PV modules. Bare in mind, the market capitalisation for pure-play solar companies has jumped from $1 billion in 2004 to over $118.3 billion today.

Myth: Solar energy cannot significantly offset global warming.
Fact: If the industry continues to grow by 25% per year, which is the prediction, PV in the United States will offset 10 million metric tons of CO2 per year by 2027. That's equivalent to the annual increase emitted by US electricity generation from fossil fuels.

Myth: A solar device requires more energy to manufacture than it will produce in its lifetime.
Fact: A PV system will produce much more energy than it consumes over its lifetime. In the worst case, the energy payback for PV is less than four years. A PV module's lifetime is typically more than 20 years.

Myth: Solar is too expensive to catch on.
Fact: Every solar panel purchased makes the next one cheaper. As opposed to non-renewable sources, which become scarcer and more expensive with every ton that is burned. When all is said and done, each cumulative production doubling drops the price by about 20%.

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