Can Solar PV Array Prices Go Down Further?

Abstract

Solar technology is not new. Its history spans from the 7th century BC till today. Now a day, we have everything from solar-powered buildings to solar powered vehicles. Firstly photovoltaic technology was born in 1954 in the United States when Daryl Chapin, Calvin fuller, and Gerald Pearson developed the silicon photovoltaic (PV) cell at bell labs. Now, photovoltaic’s solid-state junction devices, often made of silicon, have dominated the conversion of sunlight to electrical power. This dominance is now being challenged by the emergence of a new generation of photovoltaic cells, based on nano- crystalline materials and conducting polymer films, making solar power much more expensive in comparison with conventional fuels. A newer type of solar cell made from a material called ‘perovskite’ is significantly cheaper to obtain and use than silicon material. It could generate as much power as today’s commodity solar cells. Highly efficient solar cells using perovskite can be made using a simple and inexpensive technology. While the policy and regulatory environment played a vital role in the ramping up of solar capacity in India, the impact of the sharp reduction of prices of solar PV systems. Especially solar PV systems which have fallen by more than 40 percent in the last three years cannot be overlooked. The critical question is that will the price of solar PV continue to drop or will they start increasing from now on?