Solar power will slash CO2 emission by more, on average, than the world’s existing power plants by 2040, according to a new analysis.
The analysis, conducted by the Energy Research Centre, an Australian think tank, and the Australian Renewable Energy Agency, an independent research institute, shows that solar energy could reduce greenhouse gas emissions by up to 40%.
It says the solar energy that is generated by the sun could also be a cleaner source of energy than fossil fuels, with the potential to generate up to 30% less CO2.
Solar power will help to cut greenhouse gas emission by up-to-40% by 2035, says the report, released today.
The report also says that the energy produced from solar power could help meet the growing demand for renewable energy.
“Solar power is expected to make up about a quarter of Australia’s electricity generation by 2034, and it’s expected to provide more than half of the electricity that’s needed in the year 2035,” the report says.
“In addition, a recent study suggests that by 2039 solar power would be the leading source of electricity for about two-thirds of Australia.”
“Solar will play a pivotal role in reducing emissions in Australia by 2037, as will renewable energy.”
The report’s co-author, Dr Robert Brummell, said it was crucial to understand the environmental impacts of solar energy.
He said solar energy was “the most clean-burning renewable energy we’ve ever created”.
“It’s the cheapest, it’s the fastest, and its the cleanest,” he said.
“It will reduce the need for the carbon emissions that have been going up in the energy sector over the past two decades, so the benefits to the environment are massive.”
Solar energy was the cheapest renewable energy, but the study found that the benefits outweighed the costs, which were “substantially greater than the costs”.
The energy research centre, which was established in 2000, is a division of the Australian Research Council.
The ERC also commissioned the report from a number of researchers.
“The Australian Renewables Agency’s (ARENA) report, which examines the environmental and economic impacts of renewable energy sources, provides valuable information on the impacts of climate change and energy transitions, as well as the economic, social and environmental impacts associated with renewable energy,” ARENA said in a statement.
“We welcome this study as it contributes to the development of a framework for assessing the benefits of renewable technology to the Australian economy.”
Solar power could provide electricity for less than $10 a megawatt hour, but its cost will be about $30-$40 a megawsatt hour.RTE understands that solar power costs around $30 a megawattsatt hour but the report estimates the cost to be about half that.
“There is an assumption here that it’s going to be cheaper than coal, that’s what the price is, but it’s really not that easy to calculate,” Dr Brummel said.
The study found the costs to be largely dependent on the type of solar power, but that the costs of producing electricity from solar were cheaper than the energy needed for producing electricity using coal.
The cost of the energy is largely dependent upon the type and size of solar panels installed.
“You can have a large number of panels, a lot of them are very small, but you need to have a lot more to make it work,” Dr Tricia Fagan, senior research scientist at the Energy Institute, said.
Dr Brummll said that there were several factors that influenced the cost of solar.
“One of them is the amount of sunshine in the sun,” he explained.
“When the sun is shining, it gets the energy that it needs, so it produces energy.
But the sun also needs heat to produce that energy, so you need more heat to make the solar panels work.”
So you need a lot less energy to make them work, and you also need a little bit of heat to keep the panels warm, so that means it has to be much more efficient than coal or oil.
“Solar panels that generate a lot energy and don’t have to be used very often, for example, would cost much less than those that generate more energy and require more energy to be turned into electricity.”
Those are the things that will make the costs lower, and they’re the things we’re going to see in the coming years,” Dr Fagan said.
Solar panels produced about 7.3 gigawatts of electricity last year, but are expected to produce more than 15 gigawatts in 2040.