Politicians
and lobbying groups still regularly dismiss the science of climate
change and efforts to increase the use of cleaner forms of energy like
wind and solar. However, any opposition to the spirit of renewable
energy could be a moot point soon as the cost of energy acquired by
modern photovoltaics continues to drop. The International Energy Agency
reports that nations from all regions have seen the market for solar power
growing this year. In fact, solar power is growing by as much as 25% in
some countries as the price continues to drop. There’s a lot of gloom
and doom about the state of our energy infrastructure, but there is some
hope we could be entering a renaissance for solar power.
Much of the
reporting we do on solar energy focuses on the cutting-edge research
that shows big gains in the efficiency of solar cells. Some
multi-junction concentrator designs for solar cells have shown as much
as 43% efficiency (theoretical efficiency of over 80%), but these are
very expensive systems that don’t work as well in real life conditions
over time. The mainstream solar cell technologies are still based on
inexpensive silicon designs and have a maximum theoretical efficiency of
34%, but the real life performance is around 22%. It turns out, that
might be good enough to make solar power viable.
Solar power is
expanding thanks to an ongoing drop in the price of regular solar cell
technology. Since 2008, the cost of solar panels has dropped by almost
80%. At that point, it doesn’t really matter if the we can hit 50%
efficiency in real life usage — it’s already cheap enough to begin
displacing traditional forms of energy. The price reduction is due to a
near-constant increase in production from China, which now cranks out
more solar panels than any other nation. China also became the world’s
largest generator of solar power in 2015, surpassing Germany.
So, how far can
this go? The indisputable truth is that solar energy is the most
abundant source of power we have on Earth. The sun is a giant nuclear
fusion reactor, beaming more energy at Earth every day than we could
possibly use. We just need to capture a small slice of it. This year,
Harvard physicist David Keith admitted he was incorrect
about the limits of photovoltaic technology. Solar power, he
speculates, could reach the unheard of cost of just $20 per
megawatt-hour by 2020. That would make it the cheapest electricity on
the planet.
Utilities that
were once only grudgingly investing in solar as part of government
programs are now embracing the technology with an eye toward the future
as the costs continue to come down. Imagine what might happen if one of
these far-out solar panel technologies like multi-junction cells or perovskite thin films
are developed into a viable real-world product? It could result in a
fundamental shift. That still leaves us with the problem of storing all
that power. The sun doesn’t shine all the time, so we need batteries to
store daytime power for night. Battery technology is still lagging, so
for the time being traditional forms of energy like natural gas will
still be necessary to fill in the gaps.
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