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Three of the world's leading experts in power management technologies have signed a Memorandum of Understanding in the field of photovoltaic power generation. Under the terms of the MOU, Delta Electronics, Inc. of Taiwan, its majority-owned subsidiary DelSolar Co. Ltd. (Taiwan), and STMicroelectronics NV will explore strategic cooperation opportunities with the intention of concluding a strategic partnership in areas such as increasing solar cell production, and developing photovoltaic inverter and power supply applications. ST is the world's leading supplier of semiconductor solutions for power conversion applications. DelSolar is a world leader in solar cell manufacturing. Delta, the world's number one provider of switching power supplies, is focusing on photovoltaic inverter design and production and desires to become a major player in the fast growing solar energy system market.
Solar power accounted for only 0.024 percent of the total amount of electricity produced globally in 2004. By 2010 this may grow by a factor of 10, as solar power is predicted to supply 0.25 percent of the world's electricity. Beyond that, solar energy has huge growth potential as global demand for clean, renewable energy increases. Solar power's advantages include low environmental pollution, solar cells with long product life cycles, and an unlimited supply of raw energy—the earth receives more energy from the sun in just one hour than the world uses in a whole year.
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