Reality Check

Solar energy is hot. It seems like I read about a new commercial project almost every time I scan my favorite econews sites, and there’s a lot of research money pouring into finding more efficient ways to harness the sun than the venerable photovoltaic cell.

So, you’d think that solar power would eventually be generating a significant chunk of our power, right? Well, apparently not.

The New York Times, in its usual comprehensive fashion, reports that solar energy is barely noticeable as a source of power today, and that’s not likely to change. According to a story today, solar power was used to create just 0.1% of all power used in 2005, and by the year 2030 it will still be 0.1% (though the total amount generated will increase from 900 million kilowatt-hours to 7 billion kilowatt-hours over the same period). That’s hardly even noticeable.

And a quick look at the government’s energy investments show that solar is clearly not a priority. R&D on solar technology in fiscal 2007 will be $159 million. Nuclear gets $303 million , and coal (?!) will merit $427 million. Biofuels are currently considered the darling of the alternative energy movement in Washington (though I’m sure that the huge farm lobby was a factor there).

There are two other interesting details in this chart. First, check out the huge surge in coal power. Worldwide, a new coal-burning power plant is coming on line every week.

Second, notice that petroleum is the only source of power that declines. Who says that the peak oil theory is a myth? Seems like a good reason to invest more in alternative energy.