- The most polluting sector in Australia and internationally, the Power sector, is looking for options for a significant transformation to solar power
- Perovskite Technology is potentially very economical, durable with similar conversion rates to conventional silicon based solar Cells
- MIT Research Backs application of PSC for IoT (Internet of Things) devices
Access to electricity is often debated as a basic human right. We advocate that electricity is indeed an existential right of each human. Do you know that globally, almost 40% of energy is used for the generation of electricity, which indicates the extent of the power sector’s dependence on various sources to meet our electricity needs.
As per the International Energy Agency, our dependence on resources and fossil fuels has grown to the extent that globally, coal accounts to almost 38% of the world’s power generation. This thermal power accounted to almost 1,576 Mega tonnes of coal equivalent in 2018 and is anticipated to grow marginally to 1,714 Mega tonnes of coal equivalent by 2024.
The global quarantine during the pandemic has reiterated the desirability of leading a self-sustainable lifestyle; the new normal is expected to lead to higher adoption of Solar energy for power consumption across all sectors.
Annual PV installations in Australia by sector Source: Australian PV Institute
The Australian Energy Market Operator (AEMO) anticipates that Australia already holds the technical capability to safely operate a grid system with 75% of the power being contributed by solar and wind energy by 2025. With necessary market and regulatory arrangements, the new system now seems attainable.
Towards a Future of Solar Power: Greatcell Energy
Greatcell Energy Pty Ltd, a technology driven innovator, is amongst the top companies globally in the fastest growing solar energy technology – Perovskite Based Solar Cells (PSCs).
Greatcell Energy holds the rights to almost 20 patents and is an active participant in 3 European Union research projects. The Greatcell Energy seeks to maximises the value generation potential as the company remains committed to strategically introduced perovskite solar cell technology.
The company is led by an extensively experienced management and technical team, including Michael Grätzel as the Chief Technology Advisor. Professor Grätzel is a scientific director at École Polytechnique Fédérale de Lausanne (“EPFL”), and considered one of the founders of PSC technology. His technical papers have been cited over 250,000 times.
PSC has the potential to disrupt the solar energy sector. The opportunity for the Perovskite Based Solar Cells technology is not just limited to industrial and domestic power generation as it be used to power IoT and Micro Devices. Light weight, economical and reliability characteristics makes PSC technology potentially ideal for solar roof panels and Building Integrated Photovoltaic (BIPV) systems.
In comparison to the conventional silicon based solar cell, PSC presents the following advantages-
- The solar energy conversion rates are comparable to commercial solar cells.
- Potentially much lower cost of production of PSC cells over silicon cells
- Able to absorb wider frequency of visible light
- Ability to be produced as thin film, makes it less bulky, superior, and offering better economics at high volume production
- PSC is 1000x thinner, translucent, and flexible hence more durable and better aesthetically
- Environment friendly and cheaper in comparison to conventional silicon solar cells
- PSC could be used for large scale standard panel for grids as well as stand-alone applications
PSC technology is evolving rapidly, while silicon based solar cell technology has almost reached its technical limit. This looks to be the future of solar power.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.