As more people seek ways to utilize renewable energy, technological breakthroughs continue to help make those switches more affordable.
A recent study out of the National Renewable Energy Laboratory in Golden, Colorado, showed new solar power tech could be easier on your wallet in the near future.
According to the study, perovskite-silicon tandem solar cells could be produced in the United States at a minimum sustainable price of $0.35 per watt. That cost could dip even lower as materials become more available. The study revealed that the cost of silicon cells will likely continue to decline and perovskite-related equipment will become more widely available.
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Energy independence âš¡ Photovoltaic solar panels are considered the standard in the industry. Their production costs around $0.15 per watt thanks to decreasing costs. However, the downside of photovoltaic solar panels is their 15-22% efficiency, which perovskite-silicon tandem solar cells could easily surpass.
In an interview with pv magazine, Jacob J. Cordell, the study's lead author, offered a bright outlook for perovskite-silicon tandem solar cells. "Our work is based on data we collected from equipment manufacturers and material providers in the past year," Cordell said. "We assumed the modules to have an efficiency ranging from 25% to 35%."
With the current generation solar panels, you can save up to $30,000 over the course of just two decades after installation. As efficiency in solar panels continues to climb, consumers will receive even better returns on their investments.
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By making a switch to solar energy, not only can you save money on your electric bills, but you can also help cut down on harmful pollution entering the air. You can reap additional unexpected benefits, as well, including increased property value.
For now, Cordell believes that perovskite-silicon tandem solar cells will be "mostly developed with large-scale projects" because of their higher efficiency. But that could change as the market for the technology develops.
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