“I’d put my money on the Sun and Solar Energy, what a source of power! I hope we don’t have to wait until oil and coal run out, before we tackle that.” – Thomas Edison.Renewable energy is a clean, virtually inexhaustible and pollution free source of energy. Over the past decade, increasing awareness of climate change hazards and energy security considerations forced the global community to focus on renewable energy sources, such as solar energy, wind energy etc. resulting in unprecedented growth in renewable energy applications. Historically, the high cost of large-scale investments in these sectors has restricted the renewable energy development to be economically viable.

However, renewable energy applications are becoming more efficiently attractive globally with the expanding scale of market penetration and production, technology improvements, and the rising cost of electricity generated from fossil fuels. Incidentally, unsubsidized renewable power could cost no more to end-customer…