The integration of AI in solar forecasting is optimising energy output by predicting fluctuations in solar irradiance, thereby ensuring grid stability and maximising utilisation of solar resources
Solar power is taking centre stage globally. According to the International Energy Agency (IEA), solar PV generation increased by a record 270 TWh (up 26 percent) in 2022, reaching almost 1300 TWh. It showcased the most significant increase in absolute generation among all renewable technologies in 2022, surpassing wind for the first time in history. This growth rate aligns with the anticipated levels from 2023 to 2030 as outlined in the net zero emissions by 2050 scenario.
In India, the significant contribution of large-scale solar parks, exemplified by the Bhadla Solar Park in Rajasthan, which boasts a capacity exceeding 2.2 GW, has been instrumental in elevating solar energy production. Government initiatives, most prominently the Jawaharlal Nehru National Solar Mission (JNNSM), initiated in 2010, have played a pivotal role in driving this growth.
The infusion of foreign investments, totaling around $2.8 billion in the sector from April 2000 to September 2020, coupled with the creation of over 300,000 jobs by 2019, has firmly established India as one of the world's fastest-growing solar markets.
Moreover, the continuous decline in the cost of solar power over the years has been a game-changer, rendering solar energy cost-competitive with conventional sources.
Innovations Paving the Way in Solar Technologies:
Groundbreaking innovations in solar technology are propelling efficiency gains to unprecedented levels. Growing attention and research are directed towards novel materials for solar panels, encompassing perovskites, transparent panels, TopCon technology, and more. This trend is expected to persist, enhancing panel efficiency and diminishing costs.
A notable breakthrough is the transparent solar panel, applicable as a film on windows or surfaces, addressing space, cost, and affordability concerns. Simultaneously, TopCon Technology is poised to dominate the market, improving panel quality, low-light performance, and space efficiency. The adoption of bifacial solar panels is also on the rise, as reported by the Solar Energy Industries Association (SEIA).
These panels, capable of capturing sunlight from both sides, boast a significant increase in energy yield, showcasing their effectiveness in diverse environmental settings.
Smart Solutions for Transforming Solar Grids:
The infusion of smart technologies is revolutionising solar energy production and distribution methodologies. The integration of Artificial Intelligence (AI) in solar forecasting is optimising energy output by predicting fluctuations in solar irradiance. This not only ensures grid stability but also maximises the utilisation of solar resources.
Floating Solar Plants:
Floating photovoltaics, an innovative technology that places solar panels on water, is gaining attention for its transformative potential in solar power generation. This concept optimises solar energy harvesting by deploying installations on water bodies like lakes and reservoirs, offering versatility beyond traditional land-based setups.
According to a market research report by Grand View Research, the global floating solar panel market was valued at USD 30.16 million in 2021, and it is expected to grow at a CAGR of 22.5 percent from 2022 to 2030.
Storage:
The world has solved the problem of harvesting renewable energy. The next step now is storage. Battery technology will witness increased research and innovation. With the increased adaptation of electric vehicles to decarbonise the transport sector, the charging infrastructure will also need massive changes and will need to be more widespread. The rising demand for energy will strain current power grids.
To effectively deploy substantial future energy loads, reliable storage is essential for grid stability. In the transition to renewables, a key challenge is ensuring the consistent availability of clean energy during extended periods without sufficient sunlight or wind. Consequently, there's a growing interest in developing distinctive long-term storage solutions for power generated from renewable sources.
Sustainable finance is also playing a pivotal role in advancing solar projects. This financial influx is critical for the global scaling of solar infrastructure. Solar power is proving to be a transformative force in emerging markets. Initiatives highlighted in the World Bank's Solar Market Pathways report showcase endeavours aimed at overcoming financial barriers, building local capacity, and fostering supportive policy frameworks for solar development in developing nations.
The trajectory of solar energy in the future is characterised by innovation, sustainability, and collaborative efforts on a global scale.
(Ishan Chaturvedi is Director and Co-founder of Vareyn Solar.)