power conversion e
ffi
ciency of 25.5%
[66]
. It is worth mentioning here
that the e
ffi
ciency of perovskite solar cells was only 3.8% when
fi
rst
appeared in 2009
[62]
. Hence, semi-transparent perovskite solar cells
have been created that demonstrate high-power conversion e
ffi
ciency
and transmit visible light while blocking infrared light, making them
great candidates for solar windows
[67]
. It was demonstrated that the
polymer poly (3,4-ethylenedioxythiophene) should have great potential
for cost-e
ff
ective and highly e
ffi
cient perovskite solar cells as a hole
transporting material
[68]
.
A team of researchers at Massachusetts Institute of Technology, USA
has developed a new solar cell that combines two di
ff
erent layers of
sunlight-absorbing material to harvest a broader range of the sun's
energy
[69]
. Using a heat-resistant device, made of tungsten and alu-
mina layers, researchers have found that the device can absorb the sun's
broad spectrum radiation and convert it to electricity
[70]
. A green
polymer derived from bio-waste was applied to the dye-sensitized solar
cells
[71]
. Chitosan obtained from the insects and crustaceans chitin
was modi
fi
ed to produce the phthaloylchitosan electrolyte for the dye-
sensitized solar cells with e
ffi
ciency of more than 7%
[71]
. CdTe and Cu
(In,Ga)Se
2
thin-
fi
lm solar cells were also seen to have high e
ffi
ciencies
of around 16.5% and 20%, respectively
[72]
. The CH
3
NH
3
Pb
0.75
Sn
0.25
I
3
perovskite solar cells with inverted structure were consequently found
to have a maximum power conversion e
ffi
ciency of 14.1%
[73]
. Freitag
et al.
[74]
achieved very high power-conversion e
ffi
ciencies under
ambient light conditions by a dye-sensitized solar cell. Their photo
system was seen to combine two judiciously designed sensitizers, coded
D35 and XY1, with the copper complex Cu(II/I)(tmby) as a redox
shuttle (tmby, 4,4
′
,6,6
′
-tetramethyl-2,2
′
-bipyridine) to feature a high
open-circuit photovoltage of 1.1 V.
5. Conclusions and remarks
Solar energy technologies have become well-established and pop-
ular technologies throughout the world. To achieve this, billions of US
dollars have been invested and much more are expected to be invested
in the near future to overcome the current limitations in the solar in-
dustry. Presently, a number of new large scale solar power (for example
CSP) projects are coming online or are under development in both
developed and developing countries. CSP has been found to be suitable
for regions without frequent clouds or haze, although the system is
more expensive than PV technology. PV technologies for the time being
may continue to be the primary source of solar power generation.
Moreover, the potential market for o
ff
-grid solar systems remains lar-
gely untapped given the limited evolution of supporting policies and
institutions.
Despite a rapid decline in solar technology costs in recent years, the
overall costs to generate solar power still remain high. Incentives and
rebates which are crucial for the development of the solar energy
market are making it apparent that innovative approaches are still
necessary to reduce the
fi
scal burden of various policy incentives.
However, the solar industry should focus more on the quality and de-
velopment of its technology. Additionally, researchers should also focus
on improving the competitiveness of solar power against both con-
ventional and other renewable energy sources. Hopefully, more re-
search e
ff
orts will be dedicated toward PV technologies in the near
future to enhance their e
ffi
ciency, stability, manufacturability, and
availability, to reduce balance-of-system (BOS) costs and reduce the
costs of modules. In this review, we investigated the global potential of
solar energy technologies, their limitations and bene
fi
ts, and their fu-
ture prospects. Accordingly, we concluded that despite a few drawbacks
solar energy technology is one of the most promising renewable energy
sources to meet the future global energy demand.
Acknowledgements
This study was supported by a grant from the National Research
Foundation of Korea (NRF) funded by the Ministry of Science,
ICT & Future Planning (No. 2016R1E1A1A01940995). This work was
also carried out with the support of "Cooperative Research Program for
Agriculture Science and Technology Development (Project No.
PJ012521032017)" Rural Development Administration, Republic of
Korea.
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