Solar energy transformation refers to the process of converting the energy from the Sun into usable forms of energy. Hence, innovating new materials and designs for a solar prototype can improve efficiency and lower costs. The pathways of solar energy transformation include solar photovoltaic and solar thermal energy technologies.
Solar energy generation has a high penetration level, and expanded grid adaptability is expected to completely use the variable and questionable yield from the PV power generation, which will eventually shift solar energy generation to a more popular period or lessen the solar yield [ 43, 44 ].
According to the International Renewable Energy Agency, solar PV would be at the forefront of the revolution in the world’s power grid, alongside wind energy. The next step would be solar PV power, which would supply 25% of total electricity demand.
According to the International Energy Agency (IEA), solar PV capacity increased by over 270 TWh in 2022, reaching a total of 1300 TWh globally. Declining costs, supportive policies, and rising demand for renewable energy were the driving forces behind this growth.
It is predicted that by 2020, demand will increase to 158,055 GWh. This increase in demand is expected to be met entirely by renewable energy sources; solar photovoltaic energy is predicted to account for approximately 14,316 GWh of this total.
In fact, China alone accounted for more than 43% of the global solar PV demand in that year. This significant growth can be attributed to the country’s push towards renewable energy and the implementation of incentives such as feed-in tariffs and subsidies for solar projects.