The Future of Solar Energy
Despite challenges faced during the large-scale implementation of solar power, the solar industry has excelled in recent years. The incredibly high demand for solar power set a record last year, with over 13 GW of solar photovoltaic (PV) capacity installed in the United States alone. Solar energy accounted for 40% of the total electricity production in the United States in 2019. It has been predicted that solar power will be responsible for an estimated 33% of the global electricity generation by 2050. This suggests a promising future for the industry.
Currently, solar energy is one of the cheapest forms of power in major parts of the world, and its future is expected to be even brighter due to further advancements in technology. One of the main drawbacks of solar power is the belief that it is functional only during a part of the day. However, this is no longer a disadvantage due to improved PV and storage technologies. These technologies have increased the efficiency of solar panels and allow stored energy to be used during the day as well as at night. Additionally, the use of bifacial PV modules enables solar panels to produce additional electricity by absorbing more light, including that reflected from the ground.