Solar panels use semiconductor technology to convert energy from sunlight into electricity. These solar-powered photovoltaic systems have been growing in popularity and are becoming increasingly affordable and more efficient as the years go by. But although photovoltaic technologies are advancing, the amount of incoming sunlight a solar panel can convert into electricity is limited. The average efficiency of solar panels until recently used to be approximately fifteen per cent - a fraction of the total absorbed solar energy. While the second law of thermodynamics prohibits a solar cell from being 100 per cent efficient, recent advancements in photovoltaic technology have caused the average efficiency to reach new heights.
In 2023, efficiencies of fifteen per cent are generally the bare minimum for solar cells. According to Forbes, the efficiency of solar panels is now between fifteen and twenty-two per cent, while high-efficiency panels can reach nearly twenty-three per cent. And that’s merely for residential users. Under laboratory conditions, solar panels can even reach an efficiency of 39.5 per cent in lighting conditions akin to that of the sun: an improvement of 0.3 per cent compared to the previous all-time high. Photovoltaic technology is advancing, and it’s advancing fast.
These recent breakthroughs were caused by research into quantum well solar cells. The solar cell in question was created using inverted metamorphic multijunction (IMM) cells, which feature three junctions built of different materials. Several important learnings were used to make the cell function as it does. For example, the materials used to build the III-V materials - including gallium indium phosphide and gallium arsenide - were perfected after many years of analysis. The scientists took a deep dive into the specifics of these materials and were able to optimise the energy bandgap, increase the amount of light that the cell can absorb and improve the cell’s performance, among other optimisations. While these cells are currently very expensive to manufacture, researchers are working on ways to make the panels more economic and affordable for new implementations.
Although these highly-efficient solar panels are not ready to be placed on homeowners’ roofs yet, domestic solar panels are also increasing in efficiency. Britons looking for the most efficient solar panels on the market right now should be looking towards installing monocrystalline solar panels. These panels are generally seen as the ‘premium’ type of photovoltaic system and offer efficiency rates of fifteen to twenty per cent on average. Monocrystalline solar panels are made from one type of silicon, which means that the electrons in the material can flow more freely. This results in higher efficiency rates, but also comes at a higher price per panel. There is a more affordable alternative available in polycrystalline solar panels, but as they offer less space for the electrons to move about, efficiency rates are down to approximately fifteen to seventeen per cent.
Naturally, the efficiency of solar panels is also affected by several factors, such as weather conditions and UV-induced degradation. Fortunately, the impact of these factors on the efficiency of photovoltaic systems is regularly being tested to prevent low-quality systems from hitting store shelves.
As technology keeps steadily advancing, solar panels are becoming increasingly efficient and affordable. As the United Kingdom aims to achieve net zero emissions by 2050, the importance of advances in things such as solar and heat pump technology cannot be understated. Thus, one thing is for certain: the future of renewable energy is looking more and more bright each day.
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