The price decline for solar cells: How you can get even cheaper first appeared at the online magazine Basic Thinking. You can start the day well every morning via our newsletter update.
The costs for solar panels have dropped drastically in the past decades. A new study shows which factors affect the price and how it can be pressed further in the future.
The cost of solar cells has dropped by more than 99 percent since the 1970s. This has meant that solar power is now affordable and suitable for everyday use.
However, it is thanks to a number of diverse innovations that have been developed over time. At least that shows a current one Study of the Massachusetts Institute of Technology (with).
Price drop in solar systems
The study builds on mathematical models that the co-researchers developed in order to work out the effects of engineering technologies on the costs of photovoltaic modules and systems.
In order to be able to go even more, they combined their quantitative cost model with a detailed qualitative analysis that influenced the costs of PV system materials, manufacturing steps and operational processes.
The research results show that technical progress from various research areas and industries have influenced the dramatic cost reductions, also outside the solar sector.
Over 81 factors influenced the cost development
Building on previous work, in which important cost drivers were identified, the researchers carried out a structured literature search to innovations that could influence these drivers.
They summarized similar factors in order to be able to recognize patterns. It turned out that certain groups – such as better materials or prefabricated parts – made the production and installation of solar panels cheaper.
Finally, the team covered the industry origin and the time of each innovation and consulted experts to identify the most important ones.
The scientists identify a total of 81 factors that make solar cells cheaper. This includes, for example, developments in semiconductor production, metallurgy, glass production as well as in oil and gas production, in the construction process and even in the legal area.
Study on cheap solar panels could further reduce costs
“I knew a lot was happening in this technology,” said Study Manager Jessika Trancik, professor at the Institute for Data, Systems, and Society.
The diversity of all of these areas of how closely they are linked and that this network is clearly seen through the analysis was interesting, said the expert.
“This retrospective analysis learns valuable things for future strategies, because you can see what has worked and what does not work, and the models can also be used prospectively. It is also useful to know which adjacent sectors could support the improvement of a specific technology.”
Study results in practice
The results could help companies in the field of renewable energies to make more effective decisions about research and development investments.
Political decision -makers have the opportunity to identify areas that should be treated primarily in order to promote growth in manufacture and in use.
In the future, the researchers are planning to apply their methodology to a wide range of technologies. Among other things, you would like to examine soft technologies more intensively in order to find innovations or processes that could accelerate cost reduction.
“Although the process of technological innovation may appear like a black box, we have shown that it can be examined like other phenomena,” says Trancik.
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The contribution of price decline for solar cells: How it became even cheaper appeared on Basic Thinking. Follow us too Google News and Flipboard Or subscribe to our update newsletter.
As a Tech Industry expert, I am excited about the continuous price decline for solar cells. This trend is largely driven by advancements in technology, economies of scale, and increased competition in the solar industry.
One major factor contributing to the price decline is the improvement in manufacturing processes, such as the use of automated production lines and more efficient materials. These advancements have helped reduce the overall production costs of solar cells, making them more affordable for consumers and businesses alike.
Additionally, the growing demand for solar energy has led to increased investment in research and development, resulting in more efficient and cost-effective solar cell designs. This has allowed manufacturers to produce higher-quality solar cells at a lower cost, further driving down prices.
Furthermore, government incentives and subsidies for renewable energy projects have also played a significant role in making solar cells more affordable. These incentives help offset the initial investment costs of solar installations, making them a more attractive option for consumers and businesses looking to switch to clean energy.
Overall, the continued price decline for solar cells is a positive development for the tech industry and the environment. As prices continue to drop, solar energy will become even more competitive with traditional fossil fuels, driving further adoption of renewable energy sources and helping to combat climate change.
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