Write a critical note on the location factors and growth trend of solar industry around the world in recent years. (200 Words)
Solar power as a source of renewable energy has gained new impetus owing to the threats of climate change and depletion of fossil fuels, in this respect. Location of industry is dependent on many factors such as latitude, those areas lying in the tropical regions such as in India, south east Asia, parts of Africa have more insolation hence greater potential for solar power generation.
R&D and technological advancements is also an important determinant of the industry, innovations related to solar technologies in countries such as Germany and US has seen growth of the industry there.
Also national policies and emphasis on renewable energy has important role in location such as India’s National Solar Mission or decision of Germany to reduce dependence on nuclear energy.
The growth trends in recent times have been encouraging with many developed countries transferring technologies to developing ones. But certain issues in reaping its full benefits remains such as its dependence on climate and location ,intermittent nature, high initial investment and greater per unit cost of production compared to fossilized sources.
Owing to the inherent benefits such as non-polluting, non-exhausting and high employment generation potential need is for more efforts on parts of government to make technologies affordable through greater R&D.