Peter F. Varadi is the co-founder in 1973 of SOLAREX Corporation, Rockville, MD (USA), which pioneered the utilization of solar cells (PV) for terrestrial applications. By 1978 it had become the largest PV Company in the world. After it was sold to AMOCO in 1983, Varadi continued to work as solar power consultant, first for SOLAREX, later for the European Commission, The World Bank, NREL, and many other organizations. In 2004, Varadi was awarded the European Photovoltaic Industry Association’s (EPIA) John Bonda prize. Varadi is the author of two books and has just completed his third book: “SUN Above the Horizon – Meteoric Rise of the Solar Industry”, which will be published in the May of 2014 by Pan Stanford Publishing. Parts of this paper are taken from this book. See also his earlier article in www.energypost.eu: The Emergence and Great Future of Smart PV Systems.