The price of solar panels is rising sharply, with an average cost of 45 cents per watt now. Some solar projects are selling for 50 cents per watt or more. This increase can be attributed to several factors, including tariffs on Chinese solar equipment and a ban on silicon from a region that violates human rights. However, the cost of solar projects is expected to stabilize and stay steady for the next few years, according to industry analyst Sagar Chopra of Wood Mackenzie.
The Chinese government has taken a more aggressive approach towards renewable energy and is seeking to decarbonise its oil-dominated economy. The country recently announced plans to launch a solar-powered satellite that converts solar energy into electricity, microwaves, and lasers. These will then be transmitted to a fixed target. In another recent solar energy development, researchers at Sweden’s Chalmers University used a solar energy storage technology to ship solar energy to Shanghai Jiao Tong University. The Shanghai researchers converted the energy into electrical energy.
Other solar energy news that you may want to follow includes the Solar Investment Tax Credit, which is an incentive for solar installation. This credit defrays two-thirds of the costs of solar panels for home and business customers. However, after 2023, this tax credit will decrease to ten percent for home buyers and commercial installers. This incentive is not intended to discourage consumers from installing solar panels, but instead, to boost consumer confidence in solar power.
Another solar energy news worth your attention is the recent discovery of a new kind of solar cell. A new technique called dye-sensitized solar cells is a promising technology for next-generation solar power. The process is called dye-sensitization, and it reduces the charge carriers, thereby improving conversion efficiency. This new type of solar cell has the potential to revolutionize the solar energy industry.
Polysilicon, the material used to produce solar panels, is produced mostly in China. The US solar industry is encouraging its suppliers to increase their production outside of China. This method is less carbon-intensive, and has many advantages, including a more sustainable supply chain and avoiding companies accused of forced labor in China. Further, the US and Indian governments have recently pledged billions of dollars to expand solar manufacturing domestically. This will help ensure that more people have access to clean energy in the future.
In recent years, solar panel installation in homes has rebounded from a Covid slump. Analysts say that by 2023, there will be more than 19 gigawatts of solar PV capacity installed. In the next decade, this could quadruple, thanks to new incentives and regulations. These solar panel installations represent a burgeoning market that offers huge opportunities.
The Solar Energy Industries Association says that the incentives in the Inflation Reduction Act will help jumpstart the US solar industry. The association says that the industry hopes to build 50 GW of solar panels annually in US factories – that’s enough to power every home in Texas. At the heart of a solar panel, a compound called polysilicon absorbs sunlight and displaces extra electrons. These extra electrons flow to molecules that accept them. This creates an electric current.
The push for greener technology is pushing researchers to find cheaper, more durable and more efficient PV technology. For instance, Infineon’s latest 100 V MOSFET technology aims to make solar cells more durable and cheaper. However, solar energy news is not without its share of controversy. One company that has faced criticism for its production practices has a new product called myenergi.
