Solar panels grow more efficient every day.

New Perovskite Cell to Replace Old Solar Panels

While unit cost and available surface area are important considerations in the realm of solar energy, one of the most important factors in optimizing the performance of solar panels is increasing their efficiency.

Solar panels from brands like Tesla could be used to replace your current solar panels and improve your house’s energy efficiency by up to 30 percent. By installing these solar panels on your roof, you will reduce your heating bills by up to $400 a year as well.

Of course, there are many reasons to install solar panels. However, even the best solar panels in the world are only about 50% efficient. And the highest quality commercial-grade panels that you can buy today are just 20% efficient. That’s where brand new technologies like thermoregulation and perovskite solar cells come in.

According to a 2016 study conducted by the National Renewable Energy Laboratory, solar panels can capture about 12 percent of the light that hits them. That means that for every year of exposure, you lose about $30 in potential energy savings per panel. This translates to an annual loss in savings of $3,700 per year. However, there is hope for new technologies to improve these metrics.

A chart of the most efficient solar cells each year
As time goes on, the latest and greatest solar technology continues to grow more and more efficient.

The idea is not just to install solar panels on homes. Rather, it is to install them on city rooftops and in vacant land. By doing so, we can make use of the untapped sunlight striking our planet. Additionally, we can repurpose unused solar panels and give them a new life by transforming them into solar fields.

A map of sunlight and solar efficiency across different regions the world
Different regions across the globe receive different amounts of sunlight exposure.

The excitement doesn’t stop there. Solar panels continue to become more and more efficient every day. In fact, states that solar panel efficiency increases by .5% annually. Although that number may seem small, the efficiency of solar panels has doubled since 2004. The cost savings have also increased significantly, meaning solar is becoming a more popular option than ever before.

One new solar technology is catching headlines across the globe. The idea is to build solar cells out of calcium titanium oxide, which is plentiful and cheap in comparison to silicon. The revolutionary new compound, better known as perovskite, has the potential to bring solar technology to the next level.

A lot of research has been done in recent years to understand the efficiency of perovskite solar panels. However, the process has not yet reached the stage where it is suitable for commercial use.

Still, this is an exciting process that will likely lead to many more years of prosperity in solar panel innovation. Researchers will continue to look for ways to make the process more efficient and mainstream so that everyone can reap the benefits of solar energy.

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