Posted in Energy
Yesterday, I explained the power of exponential growth using this analogy of a lilly pond. Today, I’d like to consider a real world application where society might witness such growth: solar energy.
Many people are pessimistic that because solar energy only creates one-tenth of one percent of our electrical output today that it will always remain a niche player compared with coal and nuclear power producers. I don’t share this pessimism.
Recently, developers in New Jersey have used fallow land to install a large solar farm on Rutger’s Livingston campus. To date, the solar farm has reduced the university’s electricity bill by $235,000 and, better yet, earned $1.4 million in clean energy credits.
To be sure, it is just one small project but what happens when two, four, eight, sixteen, etcetera … universities and businesses also begin installing solar farms on under-utilized land?