Future Expectation of the Photovoltaics Role in Compensating Energy Demand

Photovoltaics (PV) is becoming a mainstream electricity provider and the need for PV cells will spike compared to current demand. Solar power is based on obtaining electricity from solar radiation by using either photovoltaic cells or concentrated solar power (CSP). Both systems have different requirement to the area and advantages. However, there are several common disadvantages, which are related to the initial cost and regulatory issues that prevent investors from starting up such projects. Based on these premises the utilization of the solar power was examined in this study by highlighting the world's sustainable energy potential and investment statistics. Therefore research analysis related to the solar energy potential is presented as well. Although, the sustainable energy is the future of the world and requires slightly less amount of expense after installation, compared to conventional energy sources, the installation costs are the predominant factor of the utilization of the sustainable energy technologies. Furthermore, this study makes an overview of the world's solar power capacity today and makes prediction for the future. This study presents comprehensive market data together with forecasts for the short-run, while the role of PV is discussed considering the demand of energy.