Solar energy is a resource that produces electricity by emitting energy from the sun in form of solar radiation. Moreover, solar energy is not only considered as a type of renewable energy, but also sustainable energy, which means that it does not harm the environment, and there are no limits for using it. Further, devices that are used to produce solar energy are solar panels and solar cell. However, everything has both negative and positive sides, and solar energy also has its advantages and disadvantages. So, in this research paper, the topic that will be addressed is the positive economic impacts of solar energy on people, country, and the world.
In some places, consuming solar energy can help people to save their money that they pay …show more content…
Another positive impact on country’s economy is that it affects country’s GDP. GDP is total value of goods and services produced in a country’s economy in a year. So, different goods and services produced in a country has an effect in GDP, and GDP affects country’s economy. In addition, Corona, Rua, and Miguel (2016) state that solar energy generates almost 1.5 time more production of goods and value added. Moreover, they mentioned that solar energy affects the domestic product more than other replaced sources used to generate electricity. These two statements conclude that countries that electricity, Gas and water supply sector has high percentage in GDP has good economic condition in general. Also, Corona, Rua, and Miguel (2016) gave an example of how using solar power in Spain affects Spain’s GDP. The authors mentioned that almost half of the good and services and value added depends on Electricity, Gas and water supply sector that impacts the GDP in a positive …show more content…
Using solar power can boost international imports and exports. Increasing global demand for solar energy provides great opportunities for countries to produce related materials. Michael (2015) demonstrates that some products that are used in producing solar power are not available in each countries. For example, solar panels and PV test kits are not available in each country, so countries have to import and export those products. The author (2015) also mentioned that importing and exporting products from other countries can offer an excellent opportunities to expand exports and business relationships with other countries. Furthermore, import and exports can improve country 's currency and
In some places, consuming solar energy can help people to save their money that they pay …show more content…
Another positive impact on country’s economy is that it affects country’s GDP. GDP is total value of goods and services produced in a country’s economy in a year. So, different goods and services produced in a country has an effect in GDP, and GDP affects country’s economy. In addition, Corona, Rua, and Miguel (2016) state that solar energy generates almost 1.5 time more production of goods and value added. Moreover, they mentioned that solar energy affects the domestic product more than other replaced sources used to generate electricity. These two statements conclude that countries that electricity, Gas and water supply sector has high percentage in GDP has good economic condition in general. Also, Corona, Rua, and Miguel (2016) gave an example of how using solar power in Spain affects Spain’s GDP. The authors mentioned that almost half of the good and services and value added depends on Electricity, Gas and water supply sector that impacts the GDP in a positive …show more content…
Using solar power can boost international imports and exports. Increasing global demand for solar energy provides great opportunities for countries to produce related materials. Michael (2015) demonstrates that some products that are used in producing solar power are not available in each countries. For example, solar panels and PV test kits are not available in each country, so countries have to import and export those products. The author (2015) also mentioned that importing and exporting products from other countries can offer an excellent opportunities to expand exports and business relationships with other countries. Furthermore, import and exports can improve country 's currency and