The solar energy industry is experiencing some ups and downs, and the latest solar energy news reflects these trends. First, the industry’s conversion efficiency has improved 0.5% annually over the last 10 years, and manufacturing costs have come down significantly. This has led to more affordable solar panels, and a decrease in up-front costs per kilowatt generated. As a result, solar energy is becoming the most cost-effective renewable energy source.
Second, a new solar rule reduces subsidies to solar panel manufacturers and increases the level of competitive bidding for new solar projects. These new rules could affect China’s dominant position in the industry, which accounts for the bulk of the solar market. The new rules must also ensure that solar companies are responsible for the recycling of their first-generation waste.
Third, the solar energy industry faces challenges of addressing energy storage. The industry has faced a lack of funding in recent years. The need for high-efficiency batteries is growing, especially with the growing popularity of electric vehicles. Batteries are needed to store the energy that solar cells can produce. New technology developed by STMicroelectronics may help solve these challenges.
Solar photovoltaic systems, also known as photovoltaic cells, convert sunlight directly into electricity. They are one of the fastest-growing renewable energy technologies and play a pivotal role in the global energy transformation. In 2020, the world will have about 710 GW of solar PV capacity installed. And another great thing about solar PV is its modular nature. This means you can buy small kits for your home or build a large solar array that can generate hundreds of megawatts of electricity.
Meanwhile, new research argues that solar panels are likely to be in use for longer than previously thought. In fact, it will take decades before the solar panels begin to break down. The International Renewable Energy Agency’s recent study, “The Future of Solar Energy and the Environmental Impact of Solar Panels,” challenges old assumptions about solar panel retirement.
China has a massive polysilicon production capacity, which is a critical component of solar panels. The solar industry relies heavily on Chinese suppliers. Its huge scale means that most of the world’s polysilicon is made in China. This concentration of production puts a strain on the solar industry’s supply chain.
In recent months, the French government has announced plans for a massive acceleration in renewable energy development. The aim of the plan is to bring France closer to its European neighbors. Meanwhile, wildfires and a heat wave have ravaged California, putting strain on the electrical grid. In other solar energy news, the Federal Aviation Administration has approved the largest solar-power project in the world, which will power an air-traffic control center in Oklahoma.
The Gujarat government has also declared Modhera as the first 24×7 solar-powered village in the country. The village will be powered by solar panels and will provide electricity for its residents free of charge. The project has been made possible by the manufacturing company Orb Energy, which has a solar panel manufacturing facility. The company is also providing critical finance for the installation of solar power systems. These projects are aimed at making the world a cleaner place.
