Sponsored column: Alternative energy no longer a pipe dream as progress made

The main problem has been that the costs involved in the storage of excess generated energy have been restrictive; for this reason, many windmills often remain idle.

Despite this, technological developments have allowed alternative energy sources to become increasing contributors to our overall energy generation. The cost of wind power has fallen 71 per cent in the past nine years, with a further 47 per cent fall expected by 2040, which has made it cost comparable to fossil fuels.

Alongside the development of new technologies in the field of solar power, this has given rise to great expectations that the use of alternative energy can increase. Already, wind power is responsible for the generation of around 11 per cent of all electricity, whereas solar power contributes around three per cent, as of the end of 2015.

We have already seen technology help drive the cost of wind power down and the next phase is for solar energy to benefit in the same way.

Companies such as Tesla are developing products like roof-based solar panels that are designed to replicate a traditional roofing system, while also generating power.

These are already cost efficient, relative to the cost of normal roofing, with the only problem being the ability to produce the panels at scale. This should become a moot point in time and in the future it is possible we could see other similar developments, such as roads being made using solar panels.

Advances such as this show the significant opportunities available to inventors, producers and manufacturers within the alternative energy sector.