Opinions are divided on the subject of the future of solar power. It is not uncommon to have scientists and specialists debating the possible outcomes of a solar energy boom, like the one we are currently experiencing in the industry.
The rate at which solar costs have fallen and technology for sustainable energy has increased has been steadily growing over the last few decades and took a sharp hit in the early 2000s when prices for solar panels dropped by about 50%.
This has meant that solar power has become much more accessible for people and many, for example, have been able to save energy with AGL Solar, thus permitting the current boom.
Continue reading to learn more about what the future has in store for solar power and just some of the possible upcoming advances in the field of solar energy.
What Does The Future Hold For Solar Energy?
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Due to the unsustainable nature of fossil fuels and the problems caused for the environment and climate from producing energy through nuclear, coal, and oil manipulation, the need for sustainable energy sources will continue to grow. As one of the main methods of renewable energy, solar power is destined to benefit because of this increased need for renewable energy sources.
Many new business opportunities will become available for companies interested in investing in solar power, either as users who can take advantage of the cheaper energy costs and benefit from a greener reputation or as motivated partners for change contributing to research and development in the area.
Additionally, property owners who become investors will be able to reap the various economic benefits offered by local governments, electricity companies, and even in the real estate business as solar panel installations continue to add value to buildings and homes.
From various parts of the world, agencies and laboratories working in the field of sustainable energies have been developing different possibilities to help evolve the practices we use to produce energy from renewable resources.
In the U.S., an investigation into a material known as ‘perovskites’ is showing great promise as a more effective version of the photovoltaic (PV) cells currently used in solar panels to harness the sun’s energy. This new material can improve efficiency and be more readily available to use on different surfaces by being applied through an ink-based paint.
There are still studies to be done on perovskites before they are released to the solar energy commercial market to ensure their durability. Therefore, other investigators continue to look into the possibilities of improving the efficiency of the current silicon-based PV cells, which have a proven lifespan of approximately 30 years.
A combined team of researchers from Germany and Israel has also been investigating the achievability of creating a machine that is able to harness the sun’s power in the most efficient way we know of, photosynthesis. In Finland, they are also exploring the prospect of building a form of solar battery tree that would be able to conserve and store the energy produced to be later employed to power small appliances.
Another futuristic plan for growth in the solar field comes from the Japanese Space Agency, which is studying the possibility of solar farms in space in the near-Earth orbit so that they can be closer to the sun and optimize the collection of its energy.
The Future Looks Bright
Whether it be through one of the proposed advancements from laboratories around the world, space agencies, or commercial production, there is no doubt that there is much to be expected of solar power technology in the coming years. It’s an exciting time for solar energy and solar power’s future looks brighter than ever.