Tuesday, May 19, 2015 4:33:58 AM
May 15th, 2015
Many of us already believed solar power was one of our best options as a long-term energy solution. Now a massive study on solar power by researchers at the Massachusetts Institute of Technology has come to two primary conclusions: solar energy holds the best potential for meeting the planet’s long-term energy needs while reducing greenhouse gases, and federal and state governments must do more to promote development of this renewable energy source.
According to the MIT study, the main goal of US solar policy should be to build the foundation for a massive scale-up of private and utility scale solar generation over the next few decades.
“Our objective has been to assess solar energy’s current and potential competitive position and to identify changes in US government policies that could more efficiently and effectively support its massive deployment over the long term, which we view as necessary,” says MITEI Director Robert Armstrong, the Chevron Professor in Chemical Engineering at MIT.
The study shows that our focus needs to shift toward new technologies and policies that have the potential to make solar a compelling economic option, pointed out Richard Schmalensee, Professor Emeritus of Economics and Management at the MIT Sloan School of Management.
Federal and state subsidy programs designed to encourage investment in solar systems should be reviewed with an eye on increasing their cost-effectiveness and with a greater emphasis on rewarding production of solar energy, the study said. Internationally, Germany’s support for solar energy use through feed-in tariffs is regarded as a showcase.
In the United States, the federal government’s solar investment tax credit (ITC) passed in 2008, but is set to expire next year. It offered a 30% tax credit for residential and business installations for solar energy. When it expires in 2016, the tax credit will drop to a more permanent 10%. This will likely dim interest in renewable energy platforms like solar.
To understand all parameters, the MIT Energy Initiative provides a 356-page report, The Future of Solar Energy, on Monday. The study found that even with today’s crystalline silicon PV technologies, the industry could achieve terawatt-scale deployment of solar power by 2050 without major technological advances.
The study focused on three challenges to achieving that goal: developing new solar technologies, integrating solar generation at large scale into existing electric systems, and designing efficient policies to support solar tech deployment.
“Massive expansion of solar generation worldwide by mid-century is likely a necessary component of any serious strategy to mitigate climate change,” the study concluded. “Fortunately, the solar resource dwarfs current and projected future electricity demand. In recent years, solar costs have fallen substantially and installed capacity has grown very rapidly.”
http://cleantechnica.com/2015/05/15/solar-long-term-energy-solution-states-mit-study/
Recent MMMW News
- Form NT 10-K/A - Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405: [Amend] • Edgar (US Regulatory) • 07/30/2024 09:25:34 PM
- Form NT 10-K - Notification of inability to timely file Form 10-K 405, 10-K, 10-KSB 405, 10-KSB, 10-KT, or 10-KT405 • Edgar (US Regulatory) • 07/30/2024 08:39:03 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/26/2024 08:36:10 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 07/26/2024 07:32:09 PM
- Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • InvestorsHub NewsWire • 06/28/2024 11:30:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/15/2024 03:44:27 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/08/2024 12:10:37 PM
- Mass Megawatts Announces Several New Product Lines with Lowest and Competitive Prices as a Source of Generating Revenue in this Fiscal Quarter and to Help Market our Patent Pending Solar Tracker • InvestorsHub NewsWire • 02/22/2024 01:00:00 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 02/12/2024 11:01:42 AM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 02/09/2024 06:02:22 PM
- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 01/26/2024 10:03:45 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/26/2024 09:20:13 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 12/06/2023 05:30:56 PM
- Mass Megawatts Announces LOWEST PRICE GUARANTEE on Solar Project Sales and Further Cost Reductions Using our Patent Pending Technologies • InvestorsHub NewsWire • 11/28/2023 01:00:00 PM
FEATURED Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • Sep 24, 2024 8:50 AM
FEATURED Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM