Perovskite solar cells
Perovskite solar cells are a promising emerging technology that can significantly reduce the cost of solar energy. Perovskite solar cells are made from a material called perovskites, which are cheap and easy to make. They are potentially more efficient than traditional silicon-based solar cells and can be made in different shapes and sizes.
Tandem solar cells
Tandem solar cells are another technology that could revolutionise the solar industry. Tandem solar cells combine two or more types of solar cells to increase efficiency and reduce costs. By stacking two or more solar cells on top of each other, tandem solar cells can capture a wider range of the solar spectrum, increasing their efficiency.
Another challenge for the solar industry is the need for additional storage. While solar panels are an excellent source of renewable energy during the day, they cannot produce energy at night or during cloudy days. This means companies have to rely on traditional energy sources in these times, which can negate the savings from solar power. Installing energy storage systems such as batteries can help companies overcome this challenge by storing excess solar energy produced during the day for use at night or during periods of low sunlight.
Solar paint
Solar paint is a technology that allows solar cells to be printed on surfaces such as walls, roofs and even cars. Solar paint is made of a combination of nanoparticles and light-absorbing dyes that can convert sunlight into electricity. This technology could make solar energy even more accessible because it can be applied to almost any surface.
Moreover, another key challenge for companies is navigating the complex landscape of incentives, regulations and obligations. In many cases, companies are not aware of the various incentives available to them, or do not know how to navigate the regulations. This can make it difficult for companies to make informed decisions about investing in solar energy.
Trends shaping the industry
Storage of solar energy
One of the biggest trends in the solar industry is energy storage. With advances in battery technology, it is now possible to store excess energy generated by solar panels for use at a later date. Energy storage can help address the fluctuating nature of solar energy and make it more reliable and consistent.
Communal solar energy
Community solar is a trend gaining popularity in the United States. Community solar allows multiple households or businesses to share a single solar panel. This allows people who cannot install solar panels on their own property to still benefit from solar energy.
Green hydrogen
Green hydrogen is a promising technology that can help address the volatility of solar energy. Green hydrogen is produced by using renewable energy to split water molecules into hydrogen and oxygen. The hydrogen can then be stored and used as fuel if needed. This technology has the potential to make solar energy more reliable and accessible.