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When PV cell was first developed in 1989, it was to run at 20% efficiency. Gradually advancements were made in solar power equipment and the usage gained popularity. Years later it was predicted that 18 Giga Watt would be generated by 2020 using solar panels. But the hype increased and within 7 years the 18 Giga Watt was generated, failing the prediction.
Many forecasts and predictions have been failed over the years regarding the energy generated using solar power. For instance, the energy generated was expected to be 1% of the total energy produced worldwide for the year 2020. But, in reality, it was 3%. Isn’t that amazing? This was beyond what the experts predicted.
Now, how will be 2021 when it comes to solar energy and electricity generation? It is believed that 2021 will surpass and break all the previous records. Investing in solar proved something of a haven during the pandemic. As the health threat slowly recedes, installations of panels will continue to grow at a pace. New solar power installations are expected to top 150 gigawatts for the first time worldwide.
The only problem that will be encountered is the increasing prices of solar equipment due to the halt in production at two large factories in China. This created a shortage of products and raised the prices. It will be causing a consequential impact on the “cheap electricity” slogan of solar panels and solar lights.