You might be surprised to learn that the world’s cheapest solar panel is not made of traditional silicon, but rather a thin-film material that’s been quietly gaining traction in the renewable energy sector. What’s more, this thin-film solar technology has already reached a milestone: in 2020, a thin-film solar panel achieved a record-low price of just $0.19 per watt, making it more affordable than traditional silicon-based panels for the first time.
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But what exactly is thin-film solar, and how did it become the dark horse of renewable energy? To understand the significance of this technology, let’s take a step back and look at the evolution of solar panels.
For decades, traditional silicon-based solar panels have been the industry standard. They’re made by depositing layers of photovoltaic material on top of a silicon substrate, which converts sunlight into electricity. However, this process is expensive and energy-intensive, making silicon-based panels more costly than many other forms of renewable energy.
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Enter thin-film solar, a technology that uses a thin layer of photovoltaic material, typically cadmium telluride (CdTe) or copper indium gallium selenide (CIGS), to convert sunlight into electricity. Because the material is deposited in a thin layer, it requires significantly less silicon and processing steps, making it more efficient and cost-effective.
One of the pioneers of thin-film solar is First Solar, an American company that’s been developing and manufacturing CdTe-based panels since the early 2000s. Their technology has improved dramatically over the years, with the company now producing panels that are not only cheaper but also more efficient than traditional silicon-based panels.
Another advantage of thin-film solar is its flexibility. Unlike traditional solar panels, which are rigid and difficult to install on curved surfaces, thin-film solar panels can be made in a flexible sheet form, making them ideal for applications like building-integrated photovoltaics (BIPV) and solar-powered windows.
So, what’s holding thin-film solar back from becoming the norm? One major challenge is the limited number of material suppliers, which has driven up costs and made it difficult for companies to scale production. Additionally, the industry still needs to overcome concerns around the toxicity of some of the materials used in thin-film solar, such as cadmium.
Despite these hurdles, thin-film solar is gaining traction. According to a report by Wood Mackenzie, the thin-film solar market is expected to grow at a CAGR of 13% between 2020 and 2025, driven by increasing demand for renewable energy and decreasing costs.
As the renewable energy landscape continues to evolve, thin-film solar is poised to play a significant role in the transition to a more sustainable future. With its promising price point, flexibility, and efficiency, it’s no wonder that thin-film solar is being hailed as the dark horse of renewable energy.
