With the growing environmental problems, there is no doubt that solar industry is planting deeper roots in the minds of the people. A lot more people are switching to solar energy for conservation as well as savings. According to the International Renewable Energy Agency (IRENA), the cost for generating solar power on a large scale will reduce to as low as 3 U.S. cents per kWh on most regions of the world.

Currently, Asia is the leading PV manufacturer with investments in modern production plants. Not only is Asia a leading manufacturer but is also a leading consumer. Countries like China, Japan, etc., the ones on the leaderboard need high-grade equipment. Although the solar power industry was born in the U.S.A, more consumption and development of solar energy in China lowered the costs for laying the foundation of the solar industry in many other Asian countries.  In recent times East Asia has accounted for a large portion of their export quota, amounting to 87 percent, and German-engineered PV production equipment continues to be in demand.  German PV producers are benefitting remarkably because of the boom in Asian solar market.

The development of PV production technologies is one of the particular focuses in the solar industry today.

Globally there is now 305GW of solar power capacity, up from around 50GW in 2010 and virtually nothing at the turn of the millennium.

Nearly half of the solar panels created were installed in China. Taking inspiration from China, the installation of solar panels doubles every year in all parts of the world. European solar companies have also been urging the European Commission to rethink the anti-dumping tariffs it imposed on Chinese solar panels in 2013. The commission is looking to extend the tariffs by 18 months, shorter than previously planned, after opposition to them from member states.

India has also made tremendous progress in installing solar panels thus giving a way to lay a strong foundation for the development of solar energy. India has transitioned from being the world’s seventh largest energy consumer to world’s fourth-largest energy consumer. India focuses to increase their solar energy consumption to 100GW by 2022.

Researchers from all over the world have experimented with using bio-degradable waste in solar cells. It turns out that the most efficient way is also the most common – photosynthesis. The study confirmed that using biomass as fuel could eventually allow us to create artificial photosynthesis machines. These could convert sunlight into energy and store in a more natural way for later use.

A team of researchers in Finland is trying to create a tree that stores solar energy in its leaves. These leaves could then be used to power small appliances and mobile phones. The trees are likely to be 3D printed, using biomaterials that mimic organic wood. Each leaf generates power from sunlight but can also use kinetic energy from the wind. The trees are designed to survive indoors as well as outdoors. The project is currently in the prototype phase at the VTT research center in Finland.

Some researchers believe they have found a way to capture the infrared spectrum of light for use in solar panels. Right now, infrared rays pass right through the panels and are wasted. But if this spectrum of invisible light can be captured, it could boost energy efficiency by 30 percent.

Solar energy is the future. Solar energy industry aims at profit maximization of individuals and saves our planet for the generations about to come. The upcoming technologies and projects only need a boost from the common people. If people are more open towards everything science and nature is about to give combined. Accepting and utilizing everything that’s about to come may take time but it’s not impossible.