The issue of intermittent supply in solar energy has been reportedly solved by an Australian company Solar24 Inc., which has developed a solar thermal system that holds heat for 14 hours.

According to Don Looper, this development is quite big.

Looper is an attorney at law firm Looper Reed & McGraw PC and has been negotiating a possible partnership between Solar24 and a Texas power company that would put the new technology's US debut in Houston.

In such an agreement, the solar power and traditional coal plants would operate in conjunction.

"The problem with solar has always been the retention of the heat overnight," reportedly said Looper, according to houston.bizjournals.com.

The same report added that while no renewable energy source is without drawbacks, all can be a useful addition to the general power supply that would eventually stabilize and lower costs.

"You wouldn't want an entirely solar-powered grid any more than you would want one that was all natural gas," says John Berger, CEO and chairman of Standard Renewable Energy LLC. "Because you would be subject to wild cost swings when something affects that source. You have to have a balance of fuel types to keep prices low."