Solar energy : Some technological advances that seem promising

For nearly three decades, solar energy has been a future source of sustainable energy. Optimists still stand their ground but many analysts think that it will continue to be in this position for quite some time, incapable of surviving without subsidies.

That does not mean that solar energy market is not growing or technology is not advancing fast enough. A report two months ago by TechNavio, part of the market research firm Infinity Research, predicted a 15.3% annual growth for the industry in the next three years.

A McKinsey report published six months ago was even more optimistic, saying that solar cell cost will continue to drop 10% every year till 2020, by which time 400-600 gigawatt of capacity would have been added globally. Solar technologies also form an active area for research. A large number of new technologies are entering the market, thereby decreasing the dominance of silicon photovoltaics.

One of most promising is thin film: projects in India are using it heavily already and technology is rapidly advancing in this field. Also in the works are new solar thermal technologies, plasmonic solar and all-carbon solar cells, not to speak of new system designs and manufacturing techniques. The next decade could also see the emergence of artificial photosynthesis, the holy grail of solar energy research.