Advertisment

Solar PV poised to challenge fossil fuels: IEEE

author-image
CIOL Bureau
Updated On
New Update

NEW DELHI, INDIA: Within the next 10 years, solar photovoltaic (PV) systems have the potential to be the most economical form of generating electricity, even compared to traditional fossil fuels, say solar energy experts from IEEE, the world’s largest technical professional association.

Advertisment

The recent report from IEEE says that the global industry must continue to improve the efficiency of solar PV cell technologies and create economies of scale to further decrease manufacturing costs. IEEE has several initiatives to encourage these advancements.

Solar energy is the earth’s most abundant energy resource. The rate of energy from sunlight hitting the earth is around 100 petawatts. Just a fraction is needed to meet the power needs of the entire globe, as it takes approximately 15 terawatts to power the earth (1 petawatt = 1,000 terawatts), said a press release.

Also read: Google to finance residential solar projects 

Advertisment

“Solar PV will be a game changer,” said James Prendergast, IEEE senior member and IEEE executive director. “No other alternative source has the same potential. As the cost of electricity from solar continues to decrease compared to traditional energy sources, we will see tremendous market adoption and I suspect it will be a growth limited only by supply. I fundamentally believe that solar PV will become one of the key elements of the solution to our near- and long-term energy challenges.”

Solar capacity is increasing at growth rate 40 p.c since 2000

According to the International Energy Association (IEA), global solar PV capacity has been increasing at an average annual growth rate of more than 40 per cent since 2000. By 2050, it is expected that solar PV will provide 11 per cent of global electricity production, corresponding to 3,000 gigawatts of cumulative installed capacity.

Advertisment

That would reduce greenhouse gas emissions by an estimated 2.3 gigatons, equivalent to reducing emissions from electricity use from 253 million homes per year, nearly the combined populations of Russia and Japan.

“For solar PV to truly compete on its own with traditional power generation, the cost and efficiency of transforming sunlight into electricity must continue to improve,” said Jie Shu, IEEE member and director of the Solar Energy Application Laboratory, Guangzhou Institute of Energy Conversion (GIEC), Chinese Academy of Sciences.

Also read: First Solar power plants near U.S. loan decision

Professor Steven Ringel, IEEE senior member and director of the Institute for Materials Research at The Ohio State University, confirmed that a primary remaining challenge for many PV technologies is achieving maximum efficiency as this would achieve lower system costs. “There’s a really healthy competition on the technology front right now,” said Ringel. 

Despite the challenges, there have been significant advancements in solar PV technology and the availability of materials necessary for solar PV development. Advancements in thin-film materials used in residential solar panels and concentrated PV used in commercial, grid-environments, solar storage, and electronic control technologies are all contributing to improvements in solar cell efficiency, the release added.

semicon