Photovoltaic technology represents less than 1% of the global electricity production today. However, its growth rate has been and continues to be remarkable especially in Europe (mainly Germany, Spain and Italy), where it has been the leading technology in terms of new installed capacity over the past 2 years. According to industry analysts, photovoltaic installed capacity in the world will double by 2016. Moreover, the electricity production cost of solar technologies is for the first time lower than conventional industrial technologies in some countries such as Germany.

When solar panels first came to the market in the 1970s they sold for more than $70 a watt in 2012 prices. Today they cost less than 80 cents a watt, with prices plummeting by 80 per cent in the past five years alone. Technological advances and drastic price reductions now make the photovoltaic option more affordable for families and businesses. The impact of allowing people to generate their own electricity is far reaching and has the potential to change the way we live. Electricity consumption could switch from the centralised electricity model that prevails today into a decentralised and self-generating industry accessible to all, inclusive of distant rural areas.


The electricity mix in Colombia
In Colombia about 95% of electricity is generated by hydroelectric projects and conventional thermal sources (mainly gas fuelled). Non-conventional renewable sources like solar, wind and biomass have barely been considered making up only about 1-3% of total production. Nonetheless, the country has enormous potential thanks to its geographical position which provides for large solar irradiation volumes and winds.

Electricity demand is growing at a rate of approximately 4% per year and is largely correlated with GDP trends. By sector type, residential, industrial and commercial users take 42%, 32% and 18% of total consumption respectively.

With daily average solar irradiation in Colombia ranging between 4,5 and 6,0 Kwh/day/m2, equal to annual averages of 1.500-2.200 Kwh/year/m2, the country has enormous potential for the use of solar energy. Additionally, solar panels continue to evolve so rapidly that they do not need direct sun light to produce electricity. That means even on a cloudy day, solar modules can produce electricity from solar energy.

Source: SolarGIS © 2013 GeoModel Solar