The global financial recession created a strong impact on every industry and was the same with solar energy industry too. The demand for solar energy dropped down by 17% in 2009. This is a harsh reality faced by the energy industry, as its getting slowly resurrected from recession. The global financial recession had created a decrease in the demand for energy, after a long time. This had put a temporary restraint on the growth of power industry, but the worldwide long term energy demands is increasing now, and is anticipated to become double by 2050. With the rise in concerns related to climatic change, the prospects of solar energy industry is much more than any other power industry.

Experts say that the recession was a blessing in one way or another, as it helped may companies to focus on long-term strategic plans to strengthen their solar energy products, and enter the energy market with more confidence than before. In the latest report published by Energy Information Administration (EIA) the improving US economy is focusing more on lucrative renewable energy resources to meet the day to day needs. This is a great boon for solar energy industry and other renewable energy resources.

On examining the information provided by Solar Energy Industries Association (SEIA) we can find that the U.S. trade association has almost 500 solar energy investment companies

In terms of the solar electric power installed, till fiscal 2008, Germany ranked first, with Spain, Japan and U.S following Germany. But in fiscal 2008, Spain outdid Germany in the number of new installations.

The number of solar PV installations around the world reached 5.95GW in 2008, showing a growth of 110%.

There are many environmental advantages of using solar energy. You can generate electricity from solar energy without any unwanted air or water emissions, noise or vibrations. This doesnít create any impact on your habitat and doesnít have any environment polluting waste products.

This energy resource doesnít have any fuel risk, like fossil ad nuclear fuels. You donít have to worry about the volatility of fuel prices or the risks of delivery. Although the amount of sunlight received and its timing can vary, you can have a properly designed and configured reliable system that can help in providing lasting and electric supply at a fixed price.

Unlike other energy resources solar power generating system can be conveniently placed at the customerís site, as sunlight is an energy which is universally available. Thus solar power reduces the expense and energy loss associated with the transmission and distribution from large plants to end users. For people who seek environment friendly energy resource, solar energy is the most perfect choice, equally applicable for rural and urban resources.

Solar energy projects have many subsidy programs. Most of the governments support the solar energy projects with subsidy programs.

You can know more about the benefits of using solar energy, for power generation, from the websites and articles from leading energy research firms. Or you conduct a web search for the keyword ĎNews On Renewable Energyí, for latest research journals and articles.

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