The increasing demand for energy has increased the burden on existing sources and their time. Renewable sources of energy are considered for the production of energy. Solar energy is the widest form of energy available and with the sun being its source, it will surely last for billions of years. The many advantages of deploying solar-powered deic for everyday use have forced many nations around the world to adopt this form of energy. As with any other form of energy source, solar energy is also harnessed using a set of solar cells that is termed as Solar Panel.
Although the first Solar Panel was invented in 1954, it took a few more years until commercially viable designs could be fabricated. The support of the world government was responsible for the extensive use of solar panels. This support in forms of tax concessions and reductions has resulted in hundreds of companies manufacturing these panels today. Solar panels have been used for many different uses and this should increase in the future. Solar battery chargers, solar water heaters and cellular chargers are just a few of the devices. Even spacecraft are being run on photovoltaic solar panels that aid in propulsion as well as in the operation of the various sensors.
In recent years, the solar power business has really taken off with several countries looking to get in on the action. Manufacturing had already focused on countries such as Germany and Spain, where they had long been encouraged to expand this sector. However, China seems to be the country that currently dominates this industry with the rapid expansion of the Chinese government’s long-term loans and investments. This has led to the import of relatively cheaper China solar panels in several countries seeking to meet renewable energy targets.
Through globalization and free trade, the flow of goods from various countries is completely left unimpeded. So if one country is able to produce one good and market it at a lower price than another, it can benefit considerably and this explains why China is targeting the solar energy industry. With the Chinese government controlling the country’s actions, its employees are able to choose worthwhile projects that may require heavy investments but eventually become profitable ventures.