Show I k- k DEVELOPING THE Tm m FIELD OK W SOLAR ENERGY Since the beginning of time man has- has often unknowingly depended on the sun as a constant energy source But only recently has there been a real search for affordable methods of harnessing this inexhaustible supply of energy that suggests the ultimate birth of a new scale full-scale industry Guaranteeing eventual emergence of efficient ways of using the suns sun's heat is the indisputable fact that primary sources of domestic energy now commonly utilized petroleum natural gas and natural gas liquids and coal are finite In response to the potentially devastating problem of eventual depletion the nation is slowly turning its attention to conservation Unfortunately Unfortunately Un fortunately however conservation alone is not enough For this reason additional credits and even subsidies have recently been established for those consumers who supplement their existing energy sources with power obtained from such inexhaustible suppliers as the sun Looking ahead we expect that the government will play an even more expansive role in the birth of ofa a solar energy industry CAPTURING SOLAR HEAT Collection of heat from the sun is by far the cheapest the least complex and therefore the commonest means of using solar energy However since this process is not designed to transform heat into another form of energy resulting applications are for the most part limited to heating and cooling functions Although collection systems vary greatly in terms of construction materials size and purpose overall designs are functionally quite similar A typical system for instance is comprised comprised comprised com com- of a well insulated collecting panel a gas or liquid heat-absorbing heat medium that extracts heat from this panel a heat storage facility usually an insulated reservoir and a mechanical or electronic heat transferring transferring transferring tran tran- mechanism So far space heating swimming pool and water heating and air conditioning are among the most frequent uses Solar thermal conversion is essentially essentially essen essen- a modification tion of this but it is less limited in that it can convert collected heat into electricity Typical of such a conversion system Several individual solar collectors each gathering and concentrating solar solar- thermal energy which is absorbed by a fluid and carried through a tubular network to a to thermal-to-electrical converter usually a turbine generator The resulting electrical energy can then have many uses uses Recent testing suggests that thermal conversion will become competitive with fossil fuels sometime in the Capturing solar energy via photovoltaic cells-a cells third method that converts sunlight directly into elec elec- is still expensive but will eventually be cheaper INVESTMENT OUTLOOK Because of the rapid rate at which new solar products are being developed and modified it is understandably impossible at this time to predict with any degree of accuracy the future profits inherent in any particular phase of solar technology And if such a forecast were presented it could be abruptly altered by an unforeseeable technological breakthrough a shift in public policy th the erratic escalation of fossil fuel prices or a major disruption in the economy Over the long range however the Research Department of Babson's 1 I Reports expects broader markets for forthe forthe forthe the industries involved in the production of such basic solar system components as glass insulation valves and controls including computer applications General Electric Honeywell Mobil Motorola Owens Owens- and Industries are selected companies that we expect to benefit from t their participation in the continuing development of solar energy At the present time we are recommending recommending mending purchase of the common stocks of GE Mobil and Motorola Free reports on these firms may be obtained from Babson's Reports Wellesley Hills mils Mass |