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The global effort to achieve net zero carbon emissions by 2050 has shed light on the significance of solar energy. Solar energy reduces carbon emissions, decreases the global dependence on fossil fuels, increases energy security, and provides a stable resource for remote areas. The recent awareness of environmental sustainability has increased the growth rate of solar energy in the energy market.

In 2023, a significant increase in the new global renewable energy capacity achieved 473 GW of which 85.5% of all new power generation capacity was accounted. In comparison to 2022, there was a 14 % increase in renewable energy capacity. Solar photovoltaics were responsible for a significant 336GW out of the 473 GW. Hence, around 71 % of the global renewable energy capacity was a result of solar energy utilization. This highlights the significant part that solar energy plays in the transition to a cleaner future.

Types of solar energy technologies in the market:

• Photovoltaic (PV) solar panels: Photovoltaic cells operate by converting solar irradiation into electricity. It is most used in industrial and residential applications. The most recent developments in this technology include the TOPCon solar cells or the Tunnel oxide passivated contact which improves the efficiency and lifetime of the silicon cells.
• Concentrated solar power: Concentrated solar cells use reflectors, lenses, and other concentrators to focus the radiation on a specific line or a point. There are 2 types of concentrated solar power: the line focus, and the point focus. The line focus type utilized reflectors to focus the irradiance into a line formation. An example of the line focus CSP is the parabolic trough in which the irradiance is focused onto a tube. The liquid within the tube heats up to generate steam that drives the turbine. The point focus is similar to the solar tower in which many reflectors are pointed onto one location to create steam and eventually electricity. In this case, sunlight is not converted into electricity, instead it is converted into heat. This technology is only used for large-scale applications.

Solar energy results in many advantages and disadvantages including:

Advantages

• Environmentally friendly and sustainable: Solar energy is a clean source of energy that reduces greenhouse emissions and the dependence on fossil fuels. According to IRENA, the transition into renewable energy sources can decrease carbon emissions by 70% by 2050.
• Cost Effectiveness: In comparison to the initial cost, the price of solar panels has significantly decreased over recent years. In comparison to 2010, the cost of solar PV decreased by 82% by 2023 (IRENA).
• Energy Security: Solar energy provides another reliable resource that may be purchased at an affordable price. Utilizing multiple resources ensures a consistent supply of energy to the grid. Solar energy is another resource that is added to the total energy yield through which it facilitates the management of energy demand.

Disadvantages

• Intermittency: solar power depends on the availability of irradiance from the sun. This source may not always be available, especially during winter. This necessitates the integration of solar energy with other sources of energy or a battery energy storage system.
• Space requirements: Large-scale solar plants need a large area to be installed but that is not always available in urban areas.

Future Innovations

Research into new solar energy technology is currently highly competitive with many useful technologies on the horizon:

• TOPCon Solar cells: An important innovation with solar panels is the development of TOPCon Solar Cells (Tunnel Oxide Passivated Contact) This type of silicon-based solar cell resulted in an increased efficiency and a longer lifetime. This is achieved by optimizing light absorption and decreasing the energy lost. TOPCon cells are used more often in the current market due to all of the advantages they exhibit in energy production and cost-effectiveness.
• Artificial intelligence and smart grids:  AI can facilitate grid management concerning solar energy integration. The utilization of a smart grid can manage the intermittent output of solar energy and distribute it properly.
• Building integrated solar: Solar panels are being used in the construction process to be installed into buildings including rooftops, walls, and windows. This method resolved the issue that solar energy has with the usage of land and space. It makes it easier for solar panels to be integrated into residential areas

Solar energy continues to become highly developed year after year and it is expected to play an important role in achieving a sustainable future. According to IRENA, solar power will achieve 30% of their global electricity generation by 2030. Since COP29 commenced in Azerbaijan, the Global Solar Council declared that the global photovoltaic capacity has reached 2 TW in 2 years beginning from the primary TW installed. The first TW took 68 years to achieve, hence the rate at which the market is growing is promising.

The pressing need to combat climate change and accelerate the energy transition requires the rapid and sustained deployment of renewable energy sources, such as wind and solar power. According to IRENA, the total global renewable power generation capacity must reach over 11,000 gigawatts (GW) by 2030. This goal requires an average annual addition of approximately 1,044 GW of new renewable capacity through the end of the decade. Notably, solar photovoltaic (PV) and wind power are expected to contribute about 90% of these additions, with solar PV capacity needing to increase to more than 5,400 GW and wind installations surpassing 3,500 GW by 2030. However, to enable the high penetration of renewable energy sources, ensure reliable deployment, and maintain grid stability, energy storage systems are crucial. These systems serve as the backbone of the energy transition. Both the International Renewable Energy Agency (IRENA) and the International Energy Agency (IEA) have emphasized the importance of energy storage systems to aid sustainable energy resources. According to IRENA, the total cost of installed BESS will diminish by 50% to 60% by 2030.

To address the intermittency of renewable energy resources, energy storage units play an integral role in storing excess renewable energy and discharging it during peak demand, providing power flexibility on an hourly, daily, weekly, or seasonal basis. Among various storage technologies, lithium-ion batteries are the most mature and economically viable, offering intraday power flexibility (ranging from 2 to 8 hours). However, the growing demand for long-duration energy storage (LDES) is necessitating advancements in alternative storage technologies for weekly, monthly, and seasonal energy shifting. The impact of variable renewable energy (VRE) varies across different time scales, necessitating diverse storage technologies with appropriate response times, power capacities, and energy capacities.

Energy storage units can be classified into five categories: chemical, thermal, electrical, mechanical, and electrochemical. Additionally, based on discharge duration, energy storage systems can be categorized into short-, medium-, and long-duration storage solutions.

1. Short-duration storage (less than 4 hours): Lithium-ion batteries dominate this category, supporting applications such as frequency regulation, peak shaving, and short-term backup power.
2. Medium-duration storage (4 to 10 hours): Flow batteries and advanced lithium-ion chemistries provide greater flexibility for renewable energy integration and grid support.
3. Long-duration storage (more than 10 hours): Technologies like pumped hydro storage, compressed air energy storage (CAES), and emerging chemical storage solutions (e.g., hydrogen and thermal energy storage) support grid resilience and seasonal energy balancing.

Energy Storage plays a pivotal role in accelerating the transition to a renewable energy future by providing critical grid flexibility and enabling better integration of intermittent renewable sources. Thus, the role of these units in the power grid is expanding, with batteries increasingly replacing traditional frequency regulation methods. Battery energy storage systems (BESS) are particularly vital for supporting renewable energy deployment and offer benefits such as load shifting, voltage support, peak shaving, transmission and distribution upgrade deferral, and energy arbitrage. Also, BESS enhances resilience by optimizing renewable generation, providing localized power during outages, and supporting system restoration.

The COP29 Presidency calls for 1.5 TW of power system storage by 2030, six times the level deployed today. However, scaling up BESS deployment presents several challenges, including regulatory uncertainties, safety concerns, and the need for infrastructure upgrades. To overcome these obstacles, a holistic approach is required to facilitate widespread storage adoption. Strategic planning will be crucial in identifying optimal locations for storage based on grid vulnerabilities and demand growth trends. The seamless integration of energy storage into grid operations will not only enhance grid reliability but also support a more resilient and sustainable energy system, driving the transition toward cleaner, more flexible energy solutions.

The global wind energy industry is undergoing rapid transformation. According to IRENA, with a 116.0 GW expansion in 2023—a 12.9% increase from the previous year—wind power reached a total installed capacity of 1,017 GW, marking its largest growth in the past decade. By 2030, wind energy is projected to become the second-largest source of global renewable electricity generation, trailing only solar PV and surpassing hydropower.

This environmentally friendly energy source can be harnessed efficiently through both land-based (onshore) and offshore technologies, ensuring long-term sustainability. In 2023, the International Renewable Energy Agency (IRENA) estimated that onshore wind added approximately 104 gigawatts (GW) of new capacity, a 48% increase compared to 2022. Offshore wind capacity additions, on the other hand, reached about 11 GW, marking a 27% rise from 2022. Statistics show that onshore wind still accounts for the majority of global wind energy capacity. However, offshore wind is gaining increasing traction due to technological advancements, higher wind speeds, and ambitious government targets. Most importantly, the global offshore wind industry is growing rapidly, driven by countries setting ambitious deployment targets. For example, the United States aims to achieve 30 gigawatts (GW) of offshore wind capacity by 2030. Europe continues to lead in offshore wind, with the United Kingdom, Germany, and the Netherlands investing heavily in large-scale offshore projects. Meanwhile, China has emerged as the largest player in new offshore wind capacity additions.

Understanding the differences between these two types of wind energy and their current deployment trends is crucial for assessing their feasibility and future impact. The points below highlight some of their characteristics:

Land-Based (Onshore) Wind Energy

• Well-stablished technology with lower installation and maintenance costs.
• Wind turbines are installed on land, typically in rural or open areas which are usually closer to population centres.
• Easier grid integration due to proximity to the demand centre.
• Lower capacity factors due to variable terrain and wind obstructions such as buildings and vegetation.

Offshore Wind Energy

• Higher wind speeds and steadier wind conditions result in greater energy output.
• Requires specialized infrastructure to withstand marine environments.
• More expensive to install and maintain due to the need for subsea cables, offshore substations, and corrosion-resistant materials.
• Benefits from economies of scale as turbine sizes increase with capacities exceeding 15 MW per turbine.
• Turbines are fixed to the seabed using monopiles or jacket structures, but floating wind farms allow for deployment in deeper waters where wind speeds are higher Wind energy,

Onshore and offshore, will play a vital role in the global energy transition. However, the intermittency in wind can pose challenges. This intermittency can be mitigated by creating hybrid plants integrating with solar or utilizing battery energy storage systems. Wind and solar energy are reliable power sources, but they exhibit different production peaks. Wind power is more effective in the fall and winter months when wind speeds are higher, and air density is greater. Solar energy, on the other hand, thrives in environments with more irradiance, typically during the summer and spring seasons. This seasonal difference means that when combined, wind and solar energy complement each other well in hybrid plants.

In addition to seasonal variations, wind and solar power also peak at different times of the day. Solar power generates electricity during daylight hours, with its peak production around solar noon. Wind turbines, however, generate power if wind speeds exceed a specific threshold, with peaks typically occurring at sunrise or sunset. These times align with changes in air temperature and density, causing winds to funnel through geographical gaps and valleys. The complementary nature of wind and solar energy helps to reduce reliance on fossil fuels and increases the overall energy output in an affordable manner. According to the IEA, delaying the integration of hybrid plants could lead to a 20% decrease in CO2 emission reductions in the power sector. It could also risk 2000 terawatt-hours (TWh) of global variable renewable energy generation, potentially undermining national climate pledges.

Overall, while the wind energy industry is undergoing rapid transformation with significant growth in capacity and investment, it also faces challenges that require strategic policy support, technological innovation, and increased investment to sustain its momentum and achieve global renewable energy targets.