The solar cell industry has grown quickly in recent years due to strong interest in renewable energy and the problem of global climate change .Cost is an important factor in the success of any solar technology. Today's solar cells are simply not enough efficient and are too expensive to manufacture for large-scale electricity generation. However, potential advancements in nanotechnology may open the door to the production of cheaper and slightly more efficient solar cells. Nanotechnology has already shown huge breakthroughs in the solar field. Quantum dots have the potential to change the world. They are a form of solar cell that is completely beyoznd anything you might imagine. Nanotechnology might be able to increase the efficiency of solar cells, but the most promising application of nanotechnology is the reduction of manufacturing cost. PVs based on CdTe, CuInGaSe (CIGS), CuInSe (CIS), and organic materials are being developed with the aim of reducing the price per watt even if that means sacrificing conversion efficiency and reliability. Utilizing nanotechnology in inexpensive solar cell would help to preserve the environment.
The increasing demand for energy and the effects of global warming are two major issues. Photovoltaics, which can turn sunlight into electricity, is the most abundant renewable and clean energy source. Production volume of PV modules increases at >35% per year. On the basis of the cumulated Photovoltaic (PV) power installed to date, an annual growth rate of module production of 30% needs to be sustained in order to supply about 5% of the electricity generating power by around 2025. This projection strongly relies on a substantial reduction of the presently high-production costs of PV modules. A possibility to reduce costs is a-Si thin-film PV modules. The specific option of thin-film Si is considered. a-Si thin-film technology works well with both direct and diffused radiation and they are suitable to be applied in shady areas with no drastic loss of efficiency. The efficiency of a-Si PV module is 8–12%. The price of a-Si module is $0·84 per watt (€0·62 per watt) as compared with $1·10 per watt (€0·81 per watt), price of a monocrystalline Si solar module. The energy payback time for thin-film system and monocrystalline module are less than a year and 3·5 years.
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