Solar energy conversion has the potential to be a very cost-effective technology. It is cheaper as compared to non-conventional energy sources. The help to increase employment and development of the transportation & agriculture sector. Solar installations are becoming cheaper and more readily available to countries where energy demand is high, but supply is low due to economic circumstances. A 1 GW solar power plant can produce almost 1.
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Solar-cell efficiency is the portion of energy in the form of sunlight that can be converted via into electricity by the . The efficiency of the solar cells used in a , in combination with latitude and climate, determines the annual energy output of the system. For example, a solar panel with 20% efficiency and an area of 1 m produces 2.
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Success of cadmium telluride PV has been due to the low cost achievable with the CdTe technology, made possible by combining adequate efficiency with lower module area costs. Direct manufacturing cost for CdTe PV modules reached $0.57 per watt in 2013, and capital cost per new watt of capacity was about $0.9 per watt (including land and buildings) in 2008.
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