Super-efficient photovoltaics and green energy batteries
Electricity suppliers in the US are incorporating lithium-ion batteries into solar and wind projects to store electricity in large quantities. These batteries are designed to maintain a steady flow of electricity even when there is no wind or sun. The US is the second-largest electricity storage market in the world, after China. The total capacity of American warehouses is enough to power 2 million households for one day.
In 2023, over 97% of solar panels installed in Europe were manufactured outside the continent, with the vast majority being made in China. Low energy costs and government support keep Chinese prices low. A decade ago, Germany was the world leader in solar panel production. However, local producers who survived the fierce competition with Chinese manufacturers are now calling for protectionist state policies in response to Chinese panels’ low prices and the US’s imposition of higher customs duties, which has resulted in a rise in Chinese panels’ inflow into the European market.
Sunmaxx, a German company that produces solar panels, is competing with Chinese manufacturers by increasing the panels’ efficiency from the standard 20% to approximately 80% through the use of a photovoltaic-thermal (PVT) system. This technology allows the module to generate electricity and heat from solar energy, which can be used to power buildings and heat water.
