Source: Joint Research Centre EDGAR
Greenhouse gas (GHG) emissions and climate change is a global phenomenon. Australia ranks amongst the highest CO2 emissions per capita group, with discharges almost doubling in the past 40 years. The sector which contributes the most is the Australian Power sector (45% of entire Australian GHG emissions). The emissions from our power sector have almost quadrupled in the past 50 years.
If the data doesn’t worry you, perhaps this visual will. Nitrogen Dioxide, a GHG gas is emitted in vast quantities from Thermal Power Plants. These visuals demonstrates the Nitrogen Dioxide concentrations, across the urban centres in Australia during the Coronavirus spread in the country.
Source: The Copernicus Sentinel-5 Satellite, ESA
Now that it has been established that Thermal Power and the Power industry altogether is a major emitter, 3 out of 4 top banks in Australia have chosen to disassociate themselves from thermal power projects.
To address the growing environmental concern, the Australian Energy Market Operator (“AEMO” T released a blueprint of transition to Renewables, stating plans to accommodate up to 75% penetration of Solar and Wind power in Australian grid system by 2025.
Conventional Solar Technologies Inefficient? Is PSC the Solution
Michael Moore’s latest film, “Planet of the Humans” lifts the lid on the conglomerate driven solar industry and exposes it for the corporate money making behemoth that it has become. The documentary also details the huge amount of energy that goes into making conventional solar panels, pointing out that the main ingredient, silicon, must be heated to over 1800C during the manufacturing process - and it is usually coal that is used to provide this energy.
The movie asserts that solar power is much less efficient than we believe. The director Jeff Gibbs substantiates this by visiting a solar farm in Michigan, United States which operated at a solar farm with an energy conversion rate of just 8%. Many other solar farms are operating at much lower rates than people believe. Experts are stating that silicon based solar cell technology have reached their technical limits with optimum energy conversion rates just over 20%. A a new and emerging technology, The Perovskite Based Solar Cells (PSCs) already have a high solar energy conversion rate of ~23.7%. This technology is expected to be a disruptive technology across the power generation space.
The Global Leader in the Perovskite Solar Cell Technology: Powering the Future
Greatcell Energy Pty Ltd, one of the top 5 Perovskite firms globally, anticipates that the disruptive technology holds the potential to change the way we think about solar power generation. In fact, The Perovskite Based Solar Cells technology holds substantial opportunities in IoT and Micro Device power supplies, lightweight, economical, and efficient solar roof panels, Building Integrated Photovoltaic (BIPV) systems and Power most significantly.
Greatcell Energy Strategy Backed by MIT Researchers: Read Here
Perovskite materials used in PSC are low cost, abundant, and do not need to be heated to extreme temperatures during the manufacture process. There is the clear potential to manufacture a solar power generation product that is truly far more environmentally friendly to conventional silicon panels.
Upon comparison with a silicon based solar cell, the Perovskite cell has a number of advantages: -
- Economical and much cheaper to produce
- Absorbs wide range of visible light frequencies
- Thin and superior for large scale commercial production and installations
- Translucent, Flexible, Durable and aesthetically appealing
- Ideal for both large scale grid applications and for stand-alone applications
- Cheaper and greener in comparison to the conventional solar cells
The PSC is anticipated to rule the future of the solar power sector despite some unique challenges and will emerge as the economical, efficient, and sustainable medium for power generation with almost minimal impact to the environment. A collective effort of government, PSC companies and organizations to adopt cleaner and advanced PSC technologies will help reduce emission and will assist in controlling the climate change phenomenon.
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.
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