What Does The Future Of Solar Energy Look Like?

There are many who use solar energy to generate electricity in their home. According to the Allied market research, the global solar energy market which was .5 billion in the year 2018, will be 3.3 billion by 2026. The prices of solar panels have decreased significantly over the years. The use of solar energy in some developing nations will be economic and reduce their reliance on other countries for imported oil. In the coming years, there will be some technological improvements making a solar energy cost-effective. Solar energy will be an efficient source of electricity production. Solar panel manufacturers should be credited for this, as it will positively impact the environment and climate.

Find below the future of solar energy

The challenges of solar energy

• Solar energy is expensive in many countries, and not all residents of those countries are able to afford it.
• Solar energy is mostly used in household activities like cooking, heating water, and heating rooms. Not many countries get long hours of sunlight, which creates a problem in storage.
• The storage of solar energy is a major problem. The solar battery storage systems store insufficiently.
•  The silicon-based solar panel offers only 33% efficiency, which doesn’t generate enough electricity.

Many people using solar energy face this problem. To prevent this solar panel manufacturers have found a solution by discovering a new device called ‘Novel solar cell’. There are some theories involved behind. Go on to find about it.

The invention of a new solar cell

The extreme need of generating electricity using solar power has encouraged researchers to look for an alternative to reduce the cost. This led to the discovery of ‘Novel solar cell’  The Novel solar cell has been discovered by researchers of Australia and China. The material used in the making is perovskite. This material makes the solar panel more efficient and durable. This cell increases the conversion efficiency. The silicon-based photovoltaic panels convert the sunlight into electricity with an efficiency of 16-18%, while Novel solar cells convert it with 35% efficiency. It also reduces the manufacturing costs. These cells, if exposed to the sun, can turn nearly 14% of incoming light into electricity. This proves it is efficient and offers a very reasonable cost. The novel solar cells can also be built from multijunction solar cells. These cells incorporate different types of semiconductor materials. These materials absorb the maximum sunlight possible and convert more than 43% of it into electricity. These cells are generally expensive but made cheaper by combining with low-cost lenses to concentrate the sunlight into a smaller version of cells.

The future of solar energy

There are two popular solar technologies in existence: photovoltaic and concentrated solar power. Solar energy will dominate by 2050 because of two reasons. First, the drastic expansion of the solar industry from the current scale will bring some changes. Second,  the new design of solar cells is likely to attract consumers' attention. It transforms a huge quantity of energy into electricity and charges reasonably. This will encourage the adoption of solar energy. The perovskite-based photovoltaic cells have been innovated but more is yet to come. The solar panel facing the sun will absorb more photons during midday, which will store the energy, and make it usable at night too. The researchers are still looking to increase the efficiency of photovoltaic cells and find materials that can replace silicon-based solar cells.

This is how the future of power generation is safe in the hands of solar energy. An effective and cost-friendly solution that can suffice the needs of the people on this planet, is the next big thing in the future. So, if you think this solution is right for you, then call Citizen solar for installation.

About This Author

Daniel Clark Joined: April 22nd, 2019