Photovoltaic degradation rates: on the way of improvement

Abstract

Recently renewable energy has been enjoying a rising support from private organizations and individuals due to the gradual decline in its production cost. Usually, the lack of reliable data that supports the long-term viability of a project is the reason why most investors are hesitant to back a renewable energy venture. The ability to accurately predict power delivery over the course of time is of vital importance to the growth of the photovoltaic (PV) industry. Two key cost drivers are the efficiency with which sunlight is converted into power and how this relationship changes over time. Thanks to the latest big data and predictive analysis technology, renewable energy companies can now produce more energy with reduced costs.