The transition to a low-carbon society requires solid growth in renewable energy. Equinor’s production of renewable energy will increase tenfold over the next five years.
The sun is a valuable source of energy for the future – and the outlook for solar energy is bright. Following dramatic cost reductions and technology improvements, solar energy is now one of the renewable forms of energy with the greatest potential for growth.
If we assume that the global energy mix will develop in a sustainable direction, more than 20 percent of all electricity will come from solar energy in 2050, according to the New Energy Outlook energy report issued by US business analyst Bloomberg.
Concurrently, there are challenges associated with access to acreage and storage options in the production of solar energy.
Today it takes 200,000 solar panels and an area equivalent to a hundred football fields to meet the energy demands of 80,000 households.
Solar energy also results in major production fluctuations because the weather varies from day to day. This means that, sometimes, one will produce too much, while at other times there will be an energy deficit.