Our new era has begun and we are living in an age of automation and artificial intelligence (AI). Not just me but everyone needs smartphones with long-lasting battery backups, as well as computers with high computing power. And when it comes to energy, remember that future of solar energy is the only solution of the world, from which immense benefits can be reaped.
And let me tell you that energy supply alone is not the only aspect of solar energy that guarantees its better future and makes it a strong candidate. Over the last few years, it has been observed that solar energy has overcome many obstacles that prevent it from reaching its final scale.
The solar energy market has come to a long and challenging journey in which it has faced many obstacles. Moreover, according to Allied Market Research, in 2018, the market cap of solar energy was only 52.5 billion dollars and now, the same Allied Market Research firm predicts that the global solar energy market will reach 223.3 billion dollars by 2026, and now that sounds like an easy target.
Increasing roof installation (solar roof mounting systems) and rapid adoption in the architectural field is the main driving force behind the growing demand for solar cells. In addition, recent technological advances have led to an increase in the use of solar energy panels to produce electricity. Researchers have worked hard and developed a new design that helps squeeze more energy out of solar panels. Over time, the prices of solar energy panels have dropped significantly, which is good news.
All developed and developing countries are rapidly adopting solar energy because of its bright future.
Challenges in the Way of Solar Energy:
At first glance, the most common use of solar energy is for cooking, heating the inner areas of factories and homes, and water. However, every country, especially countries where the sun does not rise for a long time, does not get sufficient sunlight for a long time and this prevents them from using solar energy.
Another major challenge is the proper storage of solar energy. It is pertinent to mention here that existing solar battery storage systems are quite expensive, and not everyone can afford them easily. Many modern solar panels have tackled the problem due to the tireless work of researchers, but there is still much room for improvement in this field.
Either way, you will see that we are all finally turning to renewable energy sources, and this is the need of time. At present, only two widely recognized solar technologies are there; photovoltaic cells and concentrated solar energy.
Some new steps need to be taken to increase the adaptation of solar cells, such as a new design that can capture more light and convert light energy into electricity at a lower cost while maintaining production costs. Consumers, as well as producers, are more likely to adopt solar energy shortly if it is properly informed and if it produces energy on par with other non-renewable sources.
One estimate is that in the coming years, silicon-based solar cells are likely to receive the most attention and if this happens and they are installed in large numbers, they will continue to become more affordable. On the other hand, big businessmen in the market are keen to find more efficient materials than silicone to enhance the efficiency of photovoltaic cells and make solar cells, and according to the data, they are more likely to invest in them.
However, this is not very easy and these improvements will take some time and it is only possible if a large number of solar cells are manufactured and installed at a low cost. But one day the future of solar cells will be as bright as the sun.