Electricity generated by local solar is fed to local substations and distributed to homes from there. It is used for stationary power and, notes the study, it will also increasingly be used to charge electric vehicles.
“Worldwide solar markets are poised to achieve significant growth as solar energy is widely adopted, creating economies of scale and funding new technology efficiencies,” state the study’s authors.
With a market of $19.6 billion in 2009, solar panels are anticipated to reach sales of $125.5 billion by 2016.
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