One of the main concerns is the efficiency of solar panels, which only convert a small percentage of the available solar energy into usable energy. However, despite the enormous growth of the solar industry, it may not replace fossil fuels anytime soon. There are still several barriers that could hold back the advance of solar energy. These are the three main challenges faced by the solar industry.
Get comparative quotes from up to 4 installers nearby. For solar energy to be economically competitive, engineers must find ways to improve cell efficiency and reduce their manufacturing costs. To be competitive in the coming year, solar energy companies need a strong capacity to finance projects, attracting capital and debt for low-cost projects. The general public falsely believes that solar energy is much more expensive than it actually is and that it is not an effective technology.
In most cases, it's smarter to use solar energy during the day and draw energy from the grid during the night (you can only do this if your system is connected to the grid). With drastic price cuts and a strategic focus on market dominance countries, the solar energy market has grown rapidly. Advances in CSP solutions, such as easy integration with fossil fuels and storage options, allow the industry to overcome the intermittent nature of solar energy and address grid stability issues. The more electricity you want to produce, the more solar panels you'll need, since you'll want to collect as much sunlight as possible.
Even with record growth in the industry, the large number of companies that entered the market created an oversupply of solar panels. However, as more people become independent of energy through the use of residential solar energy, dependence on traditional power companies could dramatically decrease. Thanks to the subsidies available for solar panels, as well as to the increasingly competitive prices on the market, solar energy has become the main source of energy for more and more families. Although solar energy can still be collected during cloudy and rainy days, the efficiency of the solar system decreases.
The development of catalysts that can match those found in living cells would dramatically increase the attractiveness of a solar-produced fuel cell storage system for a solar energy economy. The amount you save on your bill will depend on the size of the solar system and your electricity or heat consumption. Technological improvements have taken almost 15 years to make solar energy competitive with traditional forms of electricity in markets such as Germany, Portugal and island countries that use diesel to generate electricity.