Solar Innovations Could Slash Prices

Recently Arizona State University demonstrated that silicon-based tandem photovoltaic modules, which transform sunlight to power with higher efficiency than existing modules, will become a way for U.S. panel customers to find lower-costs and more significant benefits in the future. They have recently published a paper that examines the fact that in its current state, panel technology is reaching its limit to transfer sunlight into usable energy efficiently.

The main culprit of this limit of efficiency for the panel comes with its primary material used for construction, silicone. Due to the expectation of this material to continue to dominate the industry of panel production, it is up to innovators to find new ways to squeeze energy productivity out of the classic material.

Photovoltaic Modules

Through the Department of Energy’s SunShot Initiative, launched in 2011, has the goal of making solar cost-competitive with traditional energy sources by 2020. The program achieved its goal of $0.06 per kilowatt-hour a few years earlier than expected, whereby, a new target of $0.03 per kilowatt-hour by 2030 was made. Improving the effectiveness of photovoltaic modules is one way of reducing the price of the solar electricity to this new target. If met, the goal is assumed to triple the amount of solar installed in the U.S. in 2030. And, as this sounds exciting unfortunately during development, this type of technology will garner a higher cost for solar of this kind. However, like all new innovations, the higher the demand, the more efficient the supply chain becomes, and the cost of clean energy of this type will fall. Whereby, hopefully making this triple output solar panel system accessible to all solar panel buyers.

In addition, a new multi-faced panel is a game changer. The introduction of bifacial solar panels is moving companies to keep finding new ways to make well priced solar a thing for everyone. Because the sun moves, finding ways to harness power as it progresses can ultimately help bring down the overall cost of solar, by gathering more of this plentiful light resource. In fact, bifacial panels would increase energy producing by 15 to 25 percent.

Bifacial Development

Candian Solar has introduced its first BiKu module. This module is the first operational bifacial solar panel and will hopefully be typically raising sunlight processing by 23 percent. This kind of solar panel output gains can have a significant effect on total costs. Whenever innovation is implemented in the energy market field, the natural rules of economics become present, and we see the market shift. When there is a change in innovation that makes the demanded product becomes better, more people demand it, and thus, the price falls. The onslaught of solar innovation over the last 20 years has made some radical changes in solar panel price. The costs keep coming down as more suppliers get into the industry of supplying solar panels to the world. Eventually, competitors will be able to replicate the bifacial solar panel’s technology and drive the costs of supply down for this fantastic product.

As innovative technologies become more and more popular, older technologies will be phased out In the case of the bifacial solar panel, and this will also change its market. Although at the moment, the cost of installing bifacial solar panels are much costlier than their traditional alternatives, the long-term bonuses of installing them are more than legitimate. Bifacial solar panels would reduce the costs of long-term solar energy production projects.

Solar Future

Lowering cost and raising efficiency is the key to a future of renewable energies such as solar. Every year we have witnessed a continued drop in solar panel pricing as we continually set our minds to finding cleaner and more sustainable ways to power our planet's ever-growing energy needs. If you would like to be part of that change, then it is essential to stay informed on innovative technology, and when possible, invest in solar! to make those solar energy savings grow with time.

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