The promise of solar energy is great, isn’t it? The thought of harnessing all that free sunlight that falls on earth, day after day, is appealing.
Unfortunately, today’s solar tech still isn’t cheap enough to make it worthwhile for everyone to use. Sure, you can install some panels on your house. But even with government subsidies, it might take you a decade to break even on the purchase. For someone who isn’t dedicated, that probably isn’t going to cut it.
But here’s the good news! Technology for creating solar energy from sunlight is getting better and better all the time, bringing the price per kilowatt down to something that makes more sense for the average person.
News.com has a great article about the latest in solar tech, and what venture capitalists are investing in.
Brighter economic prospects for clean energy have set off a race to manufacture more efficient solar panels, which will improve the cost per kilowatt for consumers. Solar PV systems are still substantially more expensive than purchasing electricity generated from fossil fuels or nuclear power, according to industry experts.
The high cost of silicon, the material that converts light to electricity in most solar panels today, is one of the biggest barriers to lowering the cost of solar PV systems, said solar company executives.
“The industry is capacity constrained for the foreseeable future,” said Richard Chleboski, vice president of worldwide expansion at Evergreen Solar, who spoke at a recent Piper Jaffray conference on the solar industry. “Technology is really key in this industry because it’s a necessary component to create cost reductions.”
