Photovoltaic Technologies, Thin-Film Solar and Solar Panel Efficiency

Traditionally, photovoltaic (PV) technology was based on layers of silicon assembled within panels that are engineered to attract the sun’s rays and create a flow of electric current to electrodes (the “photoelectric effect”). However, new developments in this technology are emerging continually.

Immense amounts of effort and venture capital are being invested in solar technology, both in the U.S. and abroad. Significant progress is being made each year. The efficiency of solar cells is rising while costs per unit of electric output have plummeted. However, solar panels remain expensive to install, and they require continuing maintenance in order to keep them clean enough to operate at peak power. Current standard PV technology converts about 20% to 25% of available sunlight into electricity. However, breakthroughs in technology and efficiency are occurring in the laboratory at a rapid clip, thanks to intense new investments in research. High efficiency is important when you consider the fact that peak sunlight is available only a limited part of the day.

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Photovoltaic Technologies, Thin-Film Solar and Solar Panel Efficiency, Business and Industry Trends Analysis

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