Energy can be harnessed directly from the sun, even in cloudy weather. Solar energy is used worldwide. Solar power is generated in two main ways: Photovoltaics (PV) and Concentrated solar power (CSP) the most popular of them is Photovoltaics.
Photovoltaics (PV), also called solar cells, are electronic devices that convert sunlight directly into electricity. Solar PV has been one of the pioneering renewable technologies over the decades.Today, PV is one of the fastest-growing renewable energy technologies, and is ready to play a major role in the future global electricity generation mix.
Rising concerns about climate change, the health
effects of air pollution, energy security and energy access, along with volatile oil prices in recent decades, have led to the need to produce and use alternative, low-carbon technology options such as renewables. The total installed capacity of solar PV reached 843 GW globally (excluding CSP) by the end of 2021.
The cost of manufacturing solar panels has plummeted dramatically in the last decade, making them not only affordable but often the cheapest form of electricity. Solar panels have a lifespan of roughly 30 years, and come in variety of shades depending on the type of material used in manufacturing.
Solar PV would be one of the cheapest generating sources The levelized cost of electricity for solar PV is already competitive now compared to all generation sources (including fossil fuels) and is expected to decline further in the coming decades, falling within the range of USD 0.02 and 0.08/kWh by 2030 and USD 0.014 0.05/kWh.
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