Abstract
The key components of photovoltaic (PV) systems are PV modules representing basic devices, which are able to operate durably in outdoor conditions. PV modules can be manufactured using different materials by different fabrication technologies. The main criteria supporting or limiting a successful placement of particular technologies on the market is the cost of electricity produced by PV systems. The Levelized Cost of Energy (LCOE) method takes into account the investment cost, the operating costs, and the total energy produced during the system service life. The influence of price, efficiency and service life of PV modules on LCOE (together with the availability of materials) sets limits for applicable technologies.Over the past 15 years a categorisation of generations of PV cell and module technology groups has been frequently used. The main features of individual technology groups are discussed from the view of the above criteria. Currently, PV modules are required to have: efficiency higher than 14%, price below 0.4 USD/Wp and service life of more than 15 years. At present, the wafer-based crystalline silicon technologies have best met the criteria due to their high efficiency, low cost and long service time; and due to the abundance of materials, they are set to lead in future PV power generation.
Highlights
Photovoltaics is currently one of the world's fastest growing energy segments
The price of electricity produced by a system is usually determined by a system levelized cost of energy analysis (LCOE)
In the present developments of photovoltaics, wafer-based crystalline silicon technologies have the role of the work-horse of present PV power generation, representing nearly 95% of total module production thanks to their high efficiency, low cost and a long service time
Summary
Over the past 20 years advances in technology have led to an impressive reduction in the cost of photovoltaic modules and other components, increasing efficiency and significantly improving both the reliability and yield of the system, resulting in reduced electricity prices. This is associated with the rapid growth in installed capacity of photovoltaic power plants. Annual production (installed capacity) increased over the same period fifteen times to 130 GWp, as shown in Figure 1b and, in 2019, photovoltaics constituted more than 45% of new global electricity generation capacity additions. This paper discusses the influence of price, efficiency and service life of PV modules on LCOE (along with the availability of materials) and the resulting limits for the relevant technologies
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