Already, the sun’s contribution to human energy needs is substantial. Worldwide, solar electricity generation is a growing, multibillion dollar industry. Photovoltaic’s share of the total energy market remains rather small, well below one percent of total energy consumption. As a source of energy, nothing matches the sun. It out-powers anything that human technology could ever produce. Only a small fraction of the sun’s power output strikes the Earth, but even that provides 10,000 times as much as all the commercial energy that humans use on the planet.
Solar energy systems have no fuel costs, so most of their cost comes from the original investment in the infrastructure. While these upfront costs are not trivial, independent research shows that solar power delivers significant cost savings during the life of the investment. With a 30-50 year design life, solar systems are among the best long-term infrastructure investments that can be made. Investing in solar technology today allows the renewable energy system purchaser to “lock in” energy costs despite the uncertainty and likely increase in energy costs that will be experienced by those relying on traditional fossil fuel generation technologies currently used throughout the Caribbean today.