Introduction
How it works?
The principle of solar power generation is to irradiate sunlight on the solar cell to generate electrons (negative electrode) and holes (positive electrode). At the same time, the electrons and holes are separated to form a voltage drop, which is then transmitted to the load through wires. Simply put, the power generation principle of solar photovoltaics is a power generation method that uses solar cells to absorb sunlight with a wavelength of 0.2 μm to 0.4 μm and directly convert the light energy into electrical energy output.
Main technology
Solar photovoltaic panels are mainly divided into three types: monocrystalline, polycrystalline, and thin film.
The difference between the three of them is:
Monocrystalline solar panel
The photoelectric conversion efficiency of monocrystalline silicon solar cells is about 18%, with the highest reaching 24%. This is the highest photoelectric conversion efficiency among all types of solar cells, but the production cost is very high, because monocrystalline silicon generally uses tempered glass and waterproof Resin encapsulation makes it durable and has a service life of up to 25 years. (As shown in the picture below, the four corners of the cells in the monocrystalline silicon cell panel are rounded! There are arcs.)
Polycrystalline solar panel
The production process of polycrystalline silicon solar cells is similar to that of monocrystalline silicon solar cells, but the photoelectric conversion efficiency of polycrystalline silicon solar cells is much lower, and its photoelectric conversion efficiency is about 16%. In terms of production cost, it is cheaper than monocrystalline silicon solar cells, the material is easy to manufacture, saves power consumption, and the overall production cost is low, so it has been widely developed. In terms of performance-price ratio, monocrystalline silicon solar cells are slightly better. (As shown in the picture below, polycrystalline cells have no rounded corners. They are easily distinguished from monocrystalline cells)
Thin film solar panel
Amorphous silicon solar cells are a new type of thin-film solar cells that appeared in 1976. They are completely different from monocrystalline silicon and polycrystalline silicon solar cells in manufacturing methods. The process is greatly simplified, silicon material consumption is very small, and power consumption is lower. Its main The advantage is that it can generate electricity even in low light conditions. However, the main problem of amorphous silicon solar cells is that the photoelectric conversion efficiency is low, about 10% of the international advanced level, and it is not stable enough. As time goes by, its conversion efficiency decays.
New technology trends
Technology trends in recent years include:
- Solar panels typically draw power from the side facing the sun, but can also use small amounts of light reflected back from the ground.
- Double-sided panels became popular in 2019, with manufacturers trying to use special glass instead of opaque backing materials to capture extra electricity.
- Another change that can increase power is to switch from using positively charged silicon in solar panels to using negatively charged or N-type products, which incorporate small amounts of extra electrons, such as phosphorus, into the polycrystalline silicon. The material is relatively expensive but can improve performance and is expected to become the main material in the market in 2028.
Efficiency and scale emerged
Improving the power output of each solar panel, which means that smaller power plants can produce more electricity, may be critical to the industry because the cost of land, construction, engineering and other equipment has not fallen as much as that of solar panels. Higher power systems have arrived. In previous years, most solar panels could produce up to 400 watts of electricity; in early 2020, 500 watts of solar panels began to be sold.
Larger factories, the use of automation, and more efficient production methods have brought economies of scale, reduced labor costs, and reduced waste of raw materials to the solar industry. The average cost of solar panels fell by 90% from 2010 to 2020.
Global use cases
In 2020, the International Energy Agency (IEA) report predicts that new energy power generation led by solar energy will account for
The 80% increase in power generation in the next ten years indicates that “solar energy will become the new overlord of the world’s electricity market.”
In March 2023, the International Energy Agency recently stated that by 2027, solar power generation is expected to surpass coal-fired power generation and become the main power generation method. More than a decade ago, solar energy was still insignificant in the global energy race. Among all major sources of electricity, solar power generation accounted for the smallest share, less than 1%. But things have changed now, with the International Energy Agency (IEA) saying that in three years, solar power will surpass natural gas. Within four years, that is, by 2027, it may overtake coal as the main method of generating electricity.
Costs dropped significantly
An important reason is that the installation cost of solar power has dropped significantly. Data shows that for utility-scale solar, the average cost to build and operate has continued to fall since 2009, to about just $100 per megawatt-hour in 2021.
36 US dollars, a decrease of approximately 90% compared with 2009. The cost of coal has not changed much, and will be about $108 per megawatt hour in 2021. The International Energy Agency states that solar energy is expected to account for almost 60% of new power facilities built in the next five years.
Governments pay attention
In addition, in recent years, governments around the world have paid more and more attention to energy security and have introduced corresponding policies to support it. According to the EU plan, its solar photovoltaic power generation capacity will more than double by 2025, reaching 320 GW.
Reach 600 GW in 2030. The U.S. Inflation Reduction Act is expected to allow solar developers to enjoy certain tax credits within 10 years to carry out long-term and large-scale construction.
Home solar power
Another point that cannot be ignored is that the scale of solar energy construction can be large or small. In addition to huge arrays, it can also be a single panel on the roof. Therefore, household solar power generation is also an important market. The CEO of a solar energy company in the United States is answering the question
An interview with CNBC mentioned that the current surge in demand for electric vehicles may also drive demand for home solar power generation in the future because it is convenient, cheap and reliable.
The world’s largest solar power plant
One of the flagship projects under mainland China’s “One Belt, One Road” initiative, the world’s largest single-site solar power plant has been completed in the United Arab Emirates. It covers an area of 20 square kilometers and has a power generation capacity of 2 million kilowatts (2 gigawatt). The solar power plant (Al-Dhafra IPP) is expected to be commissioned at the end of this month ahead of the United Nations Climate Change Conference (COP28) in Dubai.
According to a report by the South China Morning Post (SCMP) on the 25th, China SINOMACH said that the power plant is located in the desert outside Abu Dhabi and can provide electricity to about 200,000 households. The company said the power plant is expected to help Abu Dhabi reduce carbon emissions by 2.4 million tons per year, equivalent to removing more than 500,000 cars from the road, and increase the proportion of green energy to more than 13% of the UAE’s total consumption. .
Main country usage scenarios
China
In July 2023, China’s National Energy Administration reported that China’s new solar installed capacity and installed capacity ranked first in the world for ten and eight consecutive years respectively; the cumulative installed capacity in the first half of 2023 exceeded 470 million kilowatts, becoming It is the second largest power source in mainland China in terms of installed capacity, after coal power.
At the end of 2023, China’s solar cells set a conversion efficiency of 26.81%, setting a new world record.
Chinese solar panel manufacturers will sell more products in the United States in 2023, boosting their market share from 42% in 2022 as overall solar panel sales surge, according to analysis by PV Tech, a division of UK-based Solar Media Ltd. increased to 45%, nearly 17 GW.
European Union
In October 2023, according to the European Commission, 90% of the EU’s solar components and silicon wafers come from China. As a result, the EU and European countries are currently considering taking more stringent actions on imports to expand clean energy in Europe.
manufacturing capabilities, and reduce dependence on Chinese products during the green transition.
U.S.
The traditional power grid is old and may limit the promotion of clean energy. Of course, solar power generation still faces some challenges. The White House stated that more than 70% of the U.S. power grid is more than 25 years old. Old transmission lines may not be able to meet the demand for clean energy such as solar energy. In addition, the original traditional grid location is not suitable for the transmission of clean energy. Updating the power grid is likely to further increase the cost of electricity.
In March 2023, White House officials confirmed that after months of deadlock, the United States began to release solar panels imported from China, and relevant Chinese companies also confirmed that there were signs of “thawing”. The reason is simple──U.S. China, which produces almost none of the components needed for solar power and is able to produce solar modules at lower costs, controls more than 80% of the supply chain and dominates the production of solar panels and other important equipment.
Top ten solar energy companies in the world
| Company name | ticker | Note |
| Jinko Solar | JKS | JinkoSolar, through its subsidiaries, produces solar cells, modules and other solar-related materials. The company is one of the world’s largest solar panel producers in terms of gigawatts (GW) delivered. The company serves customers in 160 countries around the world. |
| Canadian Solar | CSIQ | Canadian Solar is a solar product developer that designs, manufactures and sells modules for residential, commercial and industrial applications. In addition to solar modules, the company’s products include inverters and system kits. |
| SolarEdge | SEDG | SolarEdge’s main business is the manufacturing and distribution of photovoltaic array equipment and technology. In addition, the company provides optoelectronic system optimization services as well as monitoring solutions. Products include monitoring equipment, optimizers and inverters. |
| First Solar | FSLR | First Solar provides solar panels, photovoltaic plants and related services such as construction, maintenance and recycling of these products. The company uses thin-film semiconductor technology to improve the efficiency and sustainability of solar modules. |
| Sunrun | RUN | Sunrun develops, manufactures, sells, installs and maintains solar systems in 22 states, Washington, D.C., and Puerto Rico. Its products range from household rooftop panels and batteries to large-scale energy projects. |
| Enphase energy | ENPH | Enphase Energy builds and delivers solar solutions to homes and businesses in more than 145 countries. Its unique product is modular smart technology that integrates energy storage systems to charge electric vehicles, balance loads, and provide power not used by customers to the grid. |
| SunPower | SPWR | SunPower Corp. operates in the United States with operations in all 50 states. The company designs residential solar solutions. SunPower’s revenue will grow from $347 million in 2021 to $492 million in 2022. |
| Array Technologies | ARRY | Array Technologies is another U.S.-based supplier of residential solar equipment with global operations. Its main markets are North America, Australia, Latin America, Europe, Brazil and South Africa. It stands out from the competition with its patented energy-tracking technology, which rotates the panels to maximize energy collection, claiming a 25% increase in energy gain relative to non-tilted panels. |
| Maxeon Solar | MAXN | Maxeon Solar Technologies is headquartered in Singapore and operates in more than 100 markets around the world. Maxeon has a long history in the solar industry and claims to have built deep supply, sales and installation pipelines around the world, helping to lower costs for buyers. |
| Sunnova Energy | NOVA | Sunnova Energy provides residential and commercial solar solutions to more than 246,000 customers in the United States. Headquartered in Houston, Texas, it has more than 980 branch dealers and installers. The company grew in 2022 despite a cumulative net loss of $147 million, which was attributed to increases in general and administrative expenses and changes in the value of certain investments. |
Conclusion
At present, regardless of solar technology, installed capacity, growth, and market rate in the global market, China can be said to be far ahead of other countries in the world in terms of solar energy, and no country is China’s opponent.
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