Solar Energy technology firm First Solar Inc reached a milestone in alternative energy innovation by lowering the manufacturing costs of their photovoltaic panels to a mere $1 per watt. This is roughly a third the price of any other company in the industry, which still use standard silicon panels versus First Solar Energy unique cadmium telluride technology. Solar Energy has faced considerable obstacles in developing affordable manufacturing and installation costs. Solar Energy is on average twice as expensive as wind and natural gas, but First Solar’s achievement may signal the beginning of cheap and widespread solar energy and place it at the forefront of the alternative power revolution.
Skeptics still question the viability of solar energy cells, particularly in relation to just how much wattage they can actually generate. Projections of even modest growth over the next decade still conclude that photovoltaic solar energy cells increase a mere 2.5% of the global electric consumption, even with First Solar Energy novel cadmium telluride technology. Furthermore, a recent UC Berkeley study examining the efficacy of different composite materials systems in photovoltaic concluded that the three most common solar energy industry materials: cadmium telluride, silicon and copper indium gallium selenide, all have limitations in terms of abundance and preparation. This drives prices up and severely limits the competitiveness of solar energy in the alternative energy market. However, the study concludes that there is an abundance of lesser-known materials that may not outperform the current top three components in solar energy conversion, but surpass them in both cost-efficiency and overall abundance, thereby negating their inferior productivity. This discovery, coupled with First Solar Energy innovation, has left some industry experts very optimistic about the future of solar power and its potential.
