Chief Technical Officer PVT Energy Inc Northbrook, Illinois, United States
AIM/OBJECTIVE :::
Demand for renewable energy sources, including solar, continues to grow rapidly due to market forces of pricing, availability, and government incentives. Displacement of costly and harmful fossil-fuel based technologies provides reduced CO2 emissions, significant job creation, and increased security of energy supply. Photovoltaic generation is cheaper than ever, but collects a small fraction – less than 20% – of available solar energy. In combination, solar hybrid photovoltaic (PV) and thermal (T) collection in the same unit captures much higher efficiencies – up to 70% or more. Is solar hybrid technology ready to take a larger share of the expanding renewable energy market?
::: METHODS :::
Research and review history and current development of solar hybrid photovoltaic/thermal (PV/T) systems and technology.
::: RESULTS AND CONCLUSION :::
Analysis of PV/T technology and economics, including cost comparisons to existing technologies, shows favorable conditions for market expansion of solar hybrid PV/T systems. Positive factors for market success include: increasing governmental incentives intended to accelerate development of new renewable energy technologies, increasing fossil-fuel prices, and an industry ripe for innovation. Unlike PV only, solar hybrid PV/T offers a comprehensive power plant solution for on- or off-grid applications with zero fuel costs, zero carbon emissions, and significant return on investment.
