Did you know Future of Solar Energy is Brighter Than Sun: Rapid Innovations making the way and how Indians are ahead of this?
We live in the robotics and intelligence era. We need excellent battery power smartphones. We want higher-power computers. We need more and more energy in short When it comes to electricity. We use solar energy as the most renewable energy option.
Its resources not only does make it the best candidate to meet the rising energy demand. It has overcome various obstacles in the last couple of years, preventing its acceptance in the previous step. At a massive, compound annual growth rate of 20.5 percent, the global market valuation is rising.
The market for solar energy comes a long way. According to research and solar power company Fourth Partner Energy Pvt Ltd., the industry accounted for $52.5 billion in 2018. the global solar energy market is now expected to hit $223.3 billion by 2026.
The growth of rooftop systems and rapid architectural acceptance are the main driving factors behind the rising market for solar cells. In addition, the adoption of solar panels to produce electricity has recently increased with technological marvels. Researchers have, for example, built a new concept that can squeeze more electricity from solar panels. In comparison, solar panel prices have dropped dramatically in recent years. Furthermore, researchers at Houston University recently released a paper that unveils a hybrid system capable of collecting and storing solar energy.
In contrast, developed countries like India engage actively in solar energy implementation. An Indian solar project recently won a grand prize of $100,000.Solar energy is predicted to be unsurpassed quickly relative to traditional energy sources if it can overcome many obstacles.
Solar Energy Challenges
Most countries spend massive money on solar power. Although solar power will represent the energy source for all future developments, it needs to be used appropriately.
Solar energy is used in cooking, heating, and water applications most widely. However, every nation does not receive long sunshine hours, which stops them from using solar power.
Besides this, the handling of solar energy is one of the biggest challenges. The latest solar battery storage systems are, besides, very costly. However, a range of modern solar panels have solved problems, but a great deal of development is still available.
A Right Way to Boost Solar Power
Researchers looked for another material for fabricated solar panels due to the desperate need for the output of total energy in a solar panel. In reality, Australian and Chinese researchers have begun a new solar cell capable of optimizing solar panel capacity.
The product consists of perovskite, a structure found in the mid-1800s. The researchers employed the material to produce cost-effective and more robust solar panels.
It is not possible to solve the challenge of reducing the production costs of solar panels. However, the conversion performance can be increased. Defining the conversion performance is the amount of energy a meeting transforms from sunlight into electricity. The classic photovoltaic silicon-based panels give an efficiency conversion from about 16% to 18%. However, the perovskite solar panel could achieve an efficiency of approximately 35%, thus lowering production costs.
Indian Solar Energy Power Project Bags IEEE Prize
The IEEE Power Electronics Society recently arranged a worldwide competition of billions of lives for crowdsources of new concepts to boost the accessibility of solar electricity. The match was targeted at addressing people's electricity access, which encompasses about 3 billion people living in energy insecurity.
An Indian team demonstrated its technology solution during the competition, which provided a sound business plan for more people. The solution offers a daily power of at least 200 watt-hours, enough for various applications, including cellular phone charging, pumping water, milling, and cooling.
The competition consisted of an online round, a regional round, field training, and a global final, containing over 475 teams from over 70 countries. The Indian Institute of Technology Bombay launched its initiative, Urja Through the Sustainability Location, which offered training and support to women in solar industry entrepreneurship. The idea received a $100,000 grand grant.
Turning Solar Power into Home Appliance
A year earlier, California allowed the construction codes to be modified, requiring solar panels to be connected to all new buildings. Besides, multifamily buildings below three floors shall conform to these regulations. Residential installers have also developed partnerships with the builders of houses. On the other hand, the Sacramento Municipal Services district offered a program to satisfy the mandate through Community Solar energy.
Even so, the latest building code has opened up new possibilities to satisfy solar needs. SMUD helped to launch initiatives on utility size. Also, the mandate ensures that 123 MW and 334 MW are added to each year by 2026. In the renewable energy sector, this marks an incredible advance.
The Future of Solar Energy
We all turn our attention to renewable energy sources in one way or another. In the current situation, there are only two well-known solar technologies — photovoltaic cells and concentrated solar power. However, solar energy will dominate other forms of energy, and childhood steps in that direction are being taken.
Places such as Cumberland, Maine, for example, now have solar fields. It is projected that the solar area of Cumberland, containing about 1400 solar panels, will satisfy the power needs of the town's whole. According to Bill Shane, Cumberland's city manager, the city will save more than $100,000 for the next seven to eight years, and it can save up to $4 million in the long term.
A new design that could absorb more light and turn the light energy into power while retaining manufacturing costs is required to increase solar cells' adoption. Consumers and businesses are most likely to use solar panels to generate energy equivalent to other non-renewable options.
Innovations like photovoltaic perovskite-based cells have just begun. Yet an increase should be made. To produce more solar electricity, electronics will monitor the Sun during the day. If the solar panel consistently faces the Sun, more rays will strike it than if it turns in the middle of the day against the Sun. Study in this direction is nevertheless continuing.
Silicium-based solar cells are expected to be more attentive and inexpensive as they have been installed in vast numbers in the coming years. However, significant players in the industry are more likely to invest in research and development to improve photovoltaic cells' performance and find more efficient materials than silicon for solar cell construction. However, these developments would take time and are only feasible if solar cells are manufactured and built-in bulk. In that case, the future of solar cells is as bright as the Sun.
