The article, “A Green Future Driven by Solar photovoltaic (SPV) Adoption: A Growing Source of Renewable Energy”, highlights the growing importance of solar photovoltaic (SPV) technology in driving a green future. With the increasing concerns over climate change and global energy sustainability, renewable energy sources are gaining popularity. Solar PV adoption is becoming a significant contributor to the global energy mix, driven by decreasing costs, increasing efficiency, and government incentives. The article notes that solar PV Panel prices have fallen by over 70% in the past decade, making it more economical for households and businesses to switch to solar power.
The article also mentions the development of new technologies, such as bifacial panels and perovskite solar cells, which are expected to further improve the efficiency of solar panels. As a result, the global solar market is expected to grow at a CAGR of 15.6% from 2020 to 2027, reaching a value of over $123 billion by 2027. The article concludes that solar PV adoption is a key driver of a green future, offering a cleaner, more sustainable, and cost-effective alternative to traditional fossil fuels.