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The global electricity sector consists of increasingly expensive and carbon intensive sources of power generation. Utilities worldwide are looking toward alternative renewable sources of energy, in particular, concentrating solar-thermal power being converted to grid quality electricity. There is a need to double capacity by 2030 to satisfy increasing energy demands from both established and emerging countries. Due to the severe volatility of supply and demand, large dependence on foreign sources of oil and gas are simply not a long-term sustainable option to ensure energy security and independence. There is enough solar power that reaches the earth each day, we could generate the world’s electricity for generations, many times over, cleanly and efficiently. And do so using the smallest fraction of one percent of land with current modular designs.
Governments, international corporations and the financial industries have agreed, and are leading a fundamental paradigm shift in the world’s mentality towards climate change and its impact on environmental health. Various frameworks around the world regarding market based cap approach to Greenhouse Gas (GHG) Emission are in place.
The European Union has already adopted a Cap and Trade System and the USA has committed to Renewable Portfolio Standards. Increasingly, governments are mandating GHG reduction measures, tax and tariffs schemes, and other economic incentives to promote the development of carbon-free and carbon-reducing Renewable Technologies. The SunCatcher™ addresses the world governments’ requirements for a highly efficient, scalable, cost-effective, and environmentally responsible global solar solution.
In North America alone, the total amount of demand from Renewable Portfolio Standards and Provincial targets has been estimated at 70GW that will need to be added by 2025.
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