Swot Analysis Solar Power Industry

Strengths Weakness

1. Solar energy can be used to create electricity in huge quantity. 1. A vast amount of surface area is required to produce a lot of electricity.

2. Solar energy can be produced on or off the grid. The ability to produce electricity off the grid is a major advantage of solar energy for people who live in isolated and rural areas. 2. Solar electricity storage technology has not reached its full potential as of yet.

3. Clean energy with no emissions of greenhouse gases. 3. Solar panels can come off as being too bulky.

4. Solar offers plentiful, cheap energy source with panels that have a 25 year life and payback within 10 years. 4. The main weakness to solar energy going widespread is the cost of installing solar panels, however once installed there is no additional cost.

Opportunities Threats

1. The ability to harness a cheap, long lasting, powerful energy source. Solar energy can be used to create electricity in huge quantity. 1. Sun light may be limited in some areas which can cause an external threat within the solar panel industry.

2. Lower in costs as opposed to petroleum. 2. Along with daily fluctuations, solar production decreases over winter months when there are less sunlight hours and sun radiation is less intense. There has been criticism is that solar energy production is relatively inefficient.

3. There are many countries globally looking into ways to preserve energy and go green this creates a marketable segment within the industry has only a few competitors. 3. Sharp, First Solar, Trina Solar, Suntech, and Ascent Solar Technologies are among the top companies that are positioned to leverage solar energy market growth. These will be are biggest threat as competitors globally.

4. The creation of jobs we could possibly boost the economy through having the opportunity to employ individuals with in the solar power industry. 4. The economy can play a big role if the economy continues in a downward sense; this will create a...