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6 Facts That Prove Photovoltaic Worth


We all face mounting energy bills. And feel the pressure to find sustainable solutions.

I promise, photovoltaic technology is a beacon of hope.

In this blog, we’ll reveal six undeniable facts that showcase its worth.You’ll discover how it’s not just good for the planet,but also for your wallet.Stay tuned!

Photovoltaic (PV) technology is a remarkable advancement that directly converts sunlight into electricity, offering a clean, green, and abundant energy source 3. PV systems are scalable and can be used for various applications, from powering remote weather stations to grid-scale power plants, and have been successfully deployed worldwide for decades, providing stable, continuous power with minimal maintenance 2.

This article will delve into the fascinating world of photovoltaic technology, exploring its underlying principles, types of PV cells and their efficiencies, recent advancements, and diverse applications. We will also discuss the challenges and future prospects of this promising renewable energy solution.

Understanding the Photovoltaic Effect

The photovoltaic effect, discovered by Edmond Becquerel in 1839, is a process that generates voltage or electric current in a photovoltaic cell when exposed to sunlight 5. This effect occurs in solar cells, which are composed of two different types of semiconductors – a p-type and an n-type – joined together to create a p-n junction 5. The joining of these semiconductors forms an electric field in the region of the p-n junction 5.

When light of a suitable wavelength hits these cells, photons transfer their energy to atoms in the semiconducting material at the p-n junction 5 6. This energy transfer causes electrons to jump to a higher energy state known as the conduction band, leaving behind “holes” in the valence band 5. The movement of electrons creates two charge carriers, an electron-hole pair 5. The electric field caused by the p-n junction causes electrons and holes to move in opposite directions, with electrons tending to move to the n-side, creating an electric current in the cell 5 6.

PV cells convert sunlight directly into electricity through the following process 3:

  1. When photons strike a PV cell, they may be reflected, pass through, or be absorbed by the semiconductor material.
  2. Absorbed photons provide energy to generate electricity by dislodging electrons from the material’s atoms.
  3. The dislodged electrons migrate to the cell’s surface, where electrical conductors absorb them, creating an imbalance of electrical charge.
  4. This imbalance creates a voltage potential, like the negative and positive terminals of a battery.
  5. When conductors are connected in an electrical circuit to an external load, electricity flows through the circuit.

PV cells generate direct current (DC) electricity, which can be used to charge batteries that power DC devices 3. However, nearly all electricity is supplied as alternating current (AC) in electricity transmission and distribution systems. Inverters, which are power electronic devices, are used on PV panels or in arrays to convert the DC electricity to AC electricity 3 4.

Types of Photovoltaic Cells and Their Efficiencies

PV cell efficiency has increased significantly over the years, with some modules now approaching 25% efficiency 3. The solar PV market is dominated by crystalline silicon technology, consisting of four main steps: production of high purity polysilicon, crystallisation into ingots and slicing into thin wafers, production of PV cells, and assembly of PV modules 9. Monocrystalline solar cells are generally more efficient than polycrystalline cells 10 13. The record efficiencies for laboratory research cells are 8:

  • 25% for p-type passivated emitter and rear contact cell (PERC cell)
  • 26.1% for p-type rear IBC cell
  • 26.7% for n-type rear IBC cell

PERC cell is the dominant industrial PV technology, and its share in the market will continue to grow within the next decade 8. Thin-film solar cells, considered as the second-generation PV technology, have low-cost potential due to reduced amount of materials compared to the first-generation wafer-based PV cells 8. However, their market share has dropped significantly from 15% in 2010 to 5% in 2019 8.

Recently, metal halide perovskite solar cells have emerged as a promising thin-film PV technology 8. The past few years have seen extraordinarily rapid progress in their power conversion efficiency, increasing from 3.8% in 2009 to 25.5% in 2020 8 18. Researchers at Princeton University have developed the first commercially viable perovskite solar cells, which can be manufactured at room temperature and require less energy to produce than silicon solar cells 18. However, the large gap between the small cell efficiency and module efficiency is hindering the commercialization of perovskite PV technology 8.

The top 10 most efficient residential solar panels in 2024 are listed below, with their respective power and efficiency 12:

ManufacturerPanelPower (W)Efficiency (%)
SunPowerMaxeon 746024.1
Jinko SolarTiger Neo 78 Cell62023.2
Trina SolarVertex S+44522.3
HuasunHimalaya G1270022.2
Phono SolarTwin Plus M12/M1067022.1
JA SolarDeepBlue 4.0 M1054522.0
BelinusBiSoN 144 cells54521.9

Advancements in Photovoltaic Technology

Researchers are pursuing many new photovoltaic technologies, such as solar cells made from organic materials, quantum dots, and hybrid organic-inorganic materials, which may offer lower costs, greater ease of manufacture, or other benefits 1 16. Perovskite solar cells have emerged as a promising thin-film PV technology, with their power conversion efficiency increasing from 3.8% in 2009 to 25.5% in 2020 8 18. Detailed techno-economic analysis has demonstrated that perovskite PV technology is potentially very cost-effective 8.

The solar industry is witnessing significant technological advancements, including:

  1. Bifacial modules 19
  2. Advanced energy storage solutions 19
  3. Decentralization and the rise of peer-to-peer energy trading platforms 19
  4. Integration of artificial intelligence for optimizing solar panel positioning, predicting energy production, and enhancing system efficiency 19

Other groundbreaking innovations in photovoltaic technology include:

  • Transparent solar panels 20
  • Floating solar farms 20
  • Solar skins 20
  • AI-Optimized Energy Systems 20
  • Solar tracking technology 17
  • Printable solar cells 18

Advances in solar battery storage have allowed for more efficient energy storage, leading to continuous solar power generation 18. Newer solar batteries can store more power, allowing homeowners to use solar energy even during nights or cloudy days 17.

In 2022, global solar PV manufacturing capacity increased by over 70% to reach 450 GW for polysilicon and up to 640 GW for modules, with China accounting for more than 95% of new facilities throughout the supply chain 9. Greater efforts are needed to increase the resilience and geographic diversification of the solar PV supply chain 9.

Applications of Photovoltaic Technology

Photovoltaic (PV) technology has a wide range of applications, from small-scale residential systems to large utility-scale power plants 9. PV systems are quiet, visually unobtrusive, and require minimal maintenance, making them an attractive option for homeowners 22. They can supply electricity in locations where electricity distribution systems do not exist and can also supply electricity to an electric power grid 3. The environmental effects of PV systems located on buildings are minimal 3.

PV technology has diverse applications, including:

  1. Solar Farms: Large-scale PV systems, ranging from tens of megawatts to over a gigawatt, provide utility-scale power. These systems use fixed or sun-tracking panels and feed power into municipal or regional grids 23.
  2. Remote Locations: PV is a solution for electricity needs in remote or hard-to-reach locations, such as rural homes, developing nations, lighthouses, offshore oil platforms, desalination plants, and remote health clinics 23.
  3. Stand-Alone Power: PV can power stand-alone devices, tools, and meters in urban or remote areas, such as parking meters, temporary traffic signs, emergency phones, radio transmitters, water irrigation pumps, stream-flow gauges, remote guard posts, and roadway lighting 23.
  4. Power in Space: PV has been a primary power source for Earth-orbiting satellites and has supplied power for ventures such as the International Space Station and surface rovers on the Moon and Mars. Its applications in space will continue to grow 23.
  5. Building-Related Needs: PV panels can be mounted on roofs or grounds to supply electricity for buildings. PV material can also be integrated into building structures, such as windows, roof tiles, or cladding, serving a dual purpose. Awnings and parking structures can also be covered with PV for power and shading 23.
  6. Military Uses: Lightweight, flexible thin-film PV can serve applications in which portability or ruggedness are critical. Soldiers can carry lightweight PV for charging electronic equipment in the field or at remote bases 23.
  7. Transportation: PV can provide auxiliary power for vehicles such as cars and boats. Automobile sunroofs can include PV for onboard power needs or trickle-charging batteries. Lightweight PV can also conform to the shape of airplane wings to help power high-altitude aircraft 23.

Assuming intermediate efficiency, PV covering 0.6% of U.S. land area would generate enough electricity to meet national demand 4.

Challenges and Future Prospects

Despite the numerous benefits of photovoltaic (PV) technology, the industry faces several challenges that need to be addressed to ensure its continued growth and widespread adoption. Some of these challenges include:

  1. Balancing Costs and Benefits: While the upfront capital costs of PV systems can be substantial, the lifetime benefits, including energy and capacity revenues and avoided health and climate change costs, often outweigh the initial investment 24. Monetizing the health benefits of PV generation in 2017 would add almost 75% to energy revenues in the Midwest and New York and fully 100% in the Mid-Atlantic 24.
  2. Grid Integration: Integrating solar PV systems into the electric grid without destabilizing the balance between electricity supply and demand is a concern for homeowners, businesses, utilities, and government regulators 1. Improved grid infrastructure and energy storage solutions are necessary to accommodate the increasing penetration of solar power 27.
  3. Environmental Impact:
    • Solar cell waste could reach up to 78 million tons by 2050, emphasizing the need for effective recycling technologies 25.
    • Although PV systems have a positive environmental impact overall, land requirements and the use of toxic chemicals in manufacturing are concerns that need to be addressed 7.
  4. Policy and Regulatory Issues:
    • Government policies significantly impact the solar industry, with tax breaks, subsidies, and tariffs affecting supply and demand 7. The impending lack of subsidy assistance and regulatory issues are significant challenges for the photovoltaic industry 26.
    • Continued policy ambition is crucial to scale up PV deployment and follow the Net Zero Emissions by 2050 Scenario 9.
  5. Efficiency and Reliability:
    • Although PV conversion efficiency is an important metric, cost efficiency—the cost per watt of power—is more critical for most applications 4.
    • Solar power intensity varies geographically and seasonally, making it less viable in certain regions and times of year 7. However, reliability can be improved through tracking panels and storage batteries 7.

Despite these challenges, the future of photovoltaic technology looks promising. Government policies and incentives play a crucial role in shaping the future of solar energy, with many countries implementing policies to boost solar adoption 19. The Solar Energy Technologies Office (SETO) under the U.S. Department of Energy supports research and development in solar energy technologies, focusing on areas such as photovoltaics 28.

As the industry continues to grow, with the U.S. installing 67.9 GWac of solar photovoltaic systems by the end of September 2020 7, it is essential to address the challenges related to efficiency, reliability, environmental impact, and government policy 7. Establishing independence from government programs will be crucial for ensuring the long-term growth of the photovoltaic industry 7.

The Future of Photovoltaic Technology

The future of photovoltaic technology looks promising, with significant advancements in cost-effectiveness, efficiency, and global adoption. The cost of solar PV arrays has decreased significantly over the past decade, making them more accessible and cost-competitive 24. The International Renewable Energy Agency (IRENA) has explored two energy development options to the year 2050, with the REmap Case based on more ambitious, yet achievable, uptake of renewable energy and energy efficiency measures 29.

Achieving the Paris climate goals would require significant acceleration across a range of sectors and technologies, with accelerated deployment of solar PV alone leading to significant emission reductions of 4.9 gigatonnes of carbon dioxide (Gt CO₂) in 2050 29. By 2050, solar PV would represent the second-largest power generation source, just behind wind power and lead the way for the transformation of the global electricity sector 29.

The International Energy Agency (IEA) published a report on solar photovoltaics (PV) technology, focusing on its importance, role in clean energy transitions, and future predictions 9. In 2023, solar PV alone accounted for three-quarters of renewable capacity additions worldwide 9. China, the European Union, the United States, and India are expected to drive solar PV capacity growth in the coming years 9. The Annals of Environmental Science and Toxicology journal published an article titled “Application of photovoltaic technology in the use of solar energy” by Andjela B Stanojevic. The article discusses solar energy as a promising source for future energy needs and the use of PV systems in hybrid systems with other renewable or non-renewable energy sources 30.


The rapid advancements in photovoltaic technology have positioned it as a key player in the global transition towards clean and sustainable energy. With increasing efficiency, declining costs, and diverse applications ranging from residential systems to utility-scale power plants, solar PV is poised to become a dominant energy source in the coming decades. However, challenges such as grid integration, environmental impact, and policy issues need to be addressed to ensure the industry’s long-term growth and viability.

As governments and organizations worldwide continue to invest in research and development, the future of photovoltaic technology looks bright. By accelerating the deployment of solar PV and implementing ambitious renewable energy policies, we can significantly reduce carbon emissions and mitigate the effects of climate change. With the right strategies and support, photovoltaic technology has the potential to revolutionize the way we generate and consume energy, paving the way for a cleaner, greener, and more sustainable future.


Q: Can you list some key points about solar energy?

A: Here are 10 key facts about solar energy:

  • It is currently the most cost-effective form of energy.
  • The efficiency of solar panels is a significant factor to consider.
  • Solar panels do not require direct sunlight to generate energy.
  • They have a potential lifespan of up to 30 years.
  • Solar energy is the most plentiful energy source on Earth.
  • Several countries are leading the way in solar energy investment.
  • The discovery of solar energy dates back almost two centuries.

Q: What are the top benefits of using solar photovoltaic energy?

A: Solar photovoltaic energy offers several major benefits:

  • It’s a sustainable source of energy that helps reduce carbon emissions.
  • It can lead to substantial savings on household electricity expenses.
  • Homeowners can earn financial incentives through Solar Renewable Energy Credits (SRECs).
  • Installing solar panels may increase the property value of a home.

Q: Could you share three interesting facts about solar energy?

A: Certainly, here are three fascinating solar energy facts:

  • Solar energy is the most abundant energy resource available on Earth.
  • It is the quickest growing and most popular new form of electricity generation.
  • Solar energy production results in minimal greenhouse gas emissions throughout its lifecycle.
  • Solar photovoltaic (PV) systems generate about 3% of the world’s electricity.

Q: What factors contribute to the high cost of photovoltaic systems?

A: The cost of photovoltaic systems is influenced by several factors, including:

  • Soft costs such as design services and local permitting fees.
  • Hard costs encompassing solar panels, installation labor, additional components, and ongoing maintenance.


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