What is the future of solar energy?

The Future of Solar Energy considers only the two widely recognized classes of technologies for converting solar energy into electricity — photovoltaics (PV) and concentrated solar power (CSP), sometimes called solar thermal) — in their current and plausible future forms.

Why is solar energy so important?

But this is changing rapidly and is being driven by global action to improve energy access and supply security, and to mitigate climate change. Around the world, countries and companies are investing in solar generation capacity on an unprecedented scale, and, as a consequence, costs continue to fall and technologies improve.

Can solar energy be a productive resource?

As Edison observed long ago, turning them into productive resources and methods always requires further work (“Genius is one percent inspiration and ninety-nine percent perspiration.”) In solar energy, such options include solar fossil hybrids, small-scale solar thermal electricity and solar fuels, and solar-enhanced biofuels.

How will the future of solar energy be shaped?

Changes across the wider energy system, like the increased electrification of buildings and vehicles, emergence of clean fuels, and new commitments to both equitability and a more circular, sustainable economy, will shape the future of solar energy.

Is solar electricity competitive with other energy sources?

Solar electricity, whether from PV or CSP, is not yet competitive with most other electricity generating technologies and energy sources. Its current deployment – called “early” for this reason – is essentially driven by incentives.

Is solar energy a variable resource?

Solar electricity is not necessarily as variable as the solar resource itself. Solar thermal electricity (STE) can use relatively cheap and very efficient thermal storage, which allows de-linking the time of sunshine collection and the time of generating electricity.