ASSESSMENT OF SOLAR ENERGY PRODUCTION AND CONSUMPTION

Abstract

Purpose and aim of the study: The present research aims to investigate and assess the production and consumption of solar energy. Design / Methodology / Approach: The research employed the following methods: descriptive and logical construction were used for reviewing and analysing research papers and other information sources, as well as for scientific discussion. Statistical analysis was employed to process and analyse secondary data on trends in the use of solar panel systems in the world and in Latvia. The graphic method was applied to better represent and compare the research results.Main Findings: It was concluded that the share of solar energy in the world tended to increase significantly. However, Latvia lagged far behind the neighbouring countries in terms of solar energy generation and was in last place in the entire European Union in terms of total installed capacity of solar panel systems. In Latvia, a significant increase in solar energy consumption could be observed from 2022. Originality: The research examined the technology of generating solar energy and factors in the output of solar energy, summarized information on trends in solar energy consumption in Latvia and the world and identified the role of solar energy in Latvia by comparing the share of solar energy consumption with the share of consumption of other renewable energy sources and the situation in neighbouring countries and the world.Implications: The present research represents the basis for further research on solar energy production and consumption