A Report on Solar Energy Industry in Europe

Europe has embarked on developing renewable energy to meet its greenhouse gas emission reduction targets as specified in the Kyoto Protocol. It is largely dependent on fossil fuel for generation of energy and a major portion of these fossil fuels is imported. (Refer to Table I for share of various sources in total power generated in Europe). A growing population and rapid industrialization has increased the demand for energy while the fossil fuel reserves in nature are limited and are continuously becoming depleted with growing consumption. Thus, to decrease dependence on imports and ensure sustainability in power supply, Europe is developing renewable energy sources such as wind energy, solar energy, ocean, wave, and tidal energy, and biomass and geothermal energy.

– It is a passive technology that can be easily implemented in an urban environment where there is high power consumption.

– It generates electricity from the daylight available and does not require bright sunlight, and it does this with minimum impact to the landscape.

– It reduces greenhouse gas emissions by increasing energy efficiency and maximizes the use of local resources.

– Consumers can invest in installing solar panels to exercise greater control over their power consumption.