Will solar energy industry be the next cash-cow just like oil industry in recently?

Question

Will solar energy industry be the next cash-cow just like oil industry in recently?

Answer 1

Very unlikely.  Even though solar is the most abundant energy source we have, our technology to capture it is imperfect.  In fact, BP and Shell are selling off their solar panel businesses because of competition from China.

Oil is an extractive industry, and we have become so dependent on it that we'll pay just about any price for it.  That hasn't happened with solar, and won't, because all you need with solar is a means of collecting it.  The sun will always rise the next day, unlike oil from an oil well.

Solar companies will make money, but not as much as oil companies do.

DK

Answer 2

I'm sure as all things profitable there will be people trying to corner the market. At this time it is a very open market and is still in development. Most people involved seem to be doing it for the good of the planet, but that will likely change.

I hope the price and availability continue to make it more affordable for more people. But I fear with millions of dollars of state rebates and emerging technologies we will see Greed enter the market soon.

Answer 3

no, unless you can go somewhere, drill and discover a well full of solar cells.

Solar cell pricing will be more competitive. There are known costs to manufacturing and demand is not huge because there is such a long rate of return. It takes 5-15 years just to break even on your investment in solar panels, but if you drive a car, you need gas now, before you're stranded on the side of the road.

Answer 4

No.  The cost will have to come down by an order of magnitude for that to happen.

Answer 5

Here is a fact: Ten years from now we will still have an oil shortage if we again fail to begin solving the problem!

Congress still has a ban on offshore drilling.  

Congress must lift that ban before drilling can begin.  

Which leaders in Congress are leading the efforts to keep the ban?  Senate Majority Leader Harry Reid (D-NV) and Speaker of the House Nancy Pelosi (D-CA).

They want to keep us at the mercy of foreign oil for another 10 years. They are more concerned with playing politics than your paying $4 a gallon for gasoline!

Answer 6

Wind energy and tidal power seem to be the new and upcoming thing

Answer 7

Solar thermal perhaps. BUT only until efficiency of PV is up to 50-90% will it become big business in our life.

Answer 8

NO !!!

Answer 9

Possibly, but solar is very expensive and unreliable.

We should look at all types of energy and not concentrate on only one or two.  Alternatives should be part of the mix, but not the complete solution.

Diversity is the key:  nuclear, wind, coal, oil, solar, geothermal, tidal etc.  All types should be encouraged, but none should be subsidized by taxpayers.

Let the free market and the consumers decide, not the government.

Answer 10

Only when it begins to be MUCH less than the current $5/watt @ 12 Volts.

When Solar Shingles become common place it very well could.

But it is just too expensive for most people to look at.

And only home owners really have options that can get them any solar power in bulk.

Answer 11

Solar concentrating thermal power is going to take off soon in the desert states.  Even so, wind will be much bigger than solar for many years.  None of the alternative energy markets will come close to the oil industry's unprecedented profits.