IEA Say Solar Could Represent 25% of Global Electricity by 2050

Evolution Solar (PinkSheets:EVSO) applauded action of the International Energy Agency (IEA), which released two Roadmaps on Concentrating Solar Power (CSP) and Photovoltaic (PV) electricity production during the Mediterranean Solar Plan Conference taking place in Valencia, Spain. In introducing the Roadmaps, IEA Executive Director Nobuo Tanaka underscored that solar energy could represent 20 to 25% of global electricity production by 2050.

“Historically, solar power generation has proven itself and we continue to advocate policies that will support and encourage its use for multiple applications”

These two Technology Roadmaps are part of a series that will cover a total of 19 energy technologies divided between supply and demand side applications. Their aim is to enable energy technology development to quickly gain momentum in order to confront global sustainability and energy security challenges. Each Roadmap addresses technical, legal, policy, economic and organizational aspects of advancing development of these respective technologies.

The Solar PV Roadmap emphasizes that this technology is already reliable and commercially viable and needs to be backed up with long-term policy support structures to ensure its broad implementation. If done right, the report finds that PV holds the potential to achieve competitive parity with other forms of electricity generation by 2020 and could provide 11% of global electricity production by 2050. As this occurs however, energy storage and management are foreseen to become more and more of a challenge for future research and development.

"Historically, solar power generation has proven itself and we continue to advocate policies that will support and encourage its use for multiple applications," stated Robert Hines, President of Evolution Solar.

Evolution Solar commercializes next genergation alternative solar energy technologies and related photovoltaic technologies, equipment and next generation appliances.

Evolution Solar is an emerging industry leader capitalizing on its understanding of solar technology and supporting the development of alternative energy plans for large corporations and government organizations. Evolution Solar is also an expert consultant agency to organizations in their strategic and procurement plans for alternative energy contracts with public utilities.

Our next generation of alternative energy strategies avoid common positioning often encountered in the delivery of traditional energy services for our clients. Instead of simply being on the receiving end of energy and energy bills, organizations can negotiate to sell energy back to a public utility. These dynamics will no doubt be at the forefront of the coming solar technology revolution.

Evolution Solar is currently building a solar demonstration site in partnership with Texas Southern University, to be located at the University’s Houston Campus. The project should help Evolution Solar acquire new projects in a sector that is growing to compete in the energy industry, which includes XTO Energy Inc. (NYSE:XTO), Apache Corporation (NYSE:APA), Devon Energy Corporation (NYSE:DVN) and EOG Resources Inc. (NYSE:EOG).