Clean renewable energy is a reality today. Clean electricity generation facilities operate at commercial scale worldwide and were responsible for 33 percent of annual power capacity additions in 2010, second only to natural gas, according to the American Wind Energy Association. Looking into the future, the growth in clean energy will only increase, as costs continue to drop.
The cost of electricity from traditional energy sources such as coal and natural gas is largely driven by the price of fuel. However, the cost for renewable energy is driven by technology. This means that as technology continues to improve through innovation and economies of scale, the cost of renewable energy will continue to decline. This stands in contrast to conventional energy production, which will increase in cost as carbon premiums are applied and finite fuel sources are depleted.
Global energy demand is expected to triple by 2050. According to the Global Energy Council, this means billions of dollars of investment and jobs will flow into the clean energy sector to help meet this demand.
Global investment in clean energy is already showing incredible momentum. Investment in renewable energy, energy efficiency, smart grid and storage technology increased 230 percent from 2005 to 2009.
SolarReserve’s technology is unique in the sense that it is a solar solution that provides utility-scale base load power. SolarReserve’s concentrated solar technology leverages liquid molten salt as both the energy collection and storage mechanism, which allows it to separate energy collection from electricity generation. This means that a SolarReserve power plant stores the sun’s energy until it is needed to provide clean power, on demand.