Future prospects

In the last decade, solar power attracted the largest share of new investments in renewable energy sources. These investments account for almost half of the global capital invested in renewable energy. Solar has also made the status of being the cheapest electricity in history overall. With the world increasingly opting for sustainable energy resources, solar technology development is becoming ever more promising.

Global policy push for a greener future

The European Union has set an ambitious goal of reducing greenhouse gas emissions by more than 50% by 2030. Transitioning from fossil fuel to renewable energy resources is part of the European Green Deal, paving the way for a number of subsidies and other favorable policies for solar investments in the near future.

Technological advancements

Scientific advancements in the solar energy sector will continue improving the efficiency of solar panels, resulting in even lower prices overall. The progress of technology development has been stunning already – the price has dropped by 70-80 % throughout 2010-2019.

With the rapid development of solar, the PV systems are also set to become even more integrated and seamless with our environments. Solar power plants integrated into the building construction are gaining traction. As solar cells are becoming thinner and more resilient to environmental impact, it is expected that PVs will transform many unused surfaces such as pavements, walls, or windows into energy-generating assets.

Electric vehicles and solar

The popularity of electric vehicles is increasing as they get more affordable with a more comprehensive operational range. Notably, the EVs require a draw significant amounts of energy for fast charging, which is why the technology works perfectly together with a PV system. The solar power plant generates more than enough electricity needed during the daytime, which allows for the energy-intensive charging of the EVs. Solar technology transforms EVs to be a truly sustainable and environmentally friendly transportation.