The Future of Solar Energy in Developing Countries

Abstract

Around the world, there is a lot of interest in using renewable energy as a future energy source. As one type of renewable energy source, solar energy—including concentrating solar power (CSP) and solar photovoltaic (PV) power—contributes only 3.6% of the world's electricity production. As the second most installed renewable energy resource after hydropower energy, it has solidified its position among other renewable energy technologies, accounting for over 31% of the installed renewable energy capacity in 2022. The solar power status of various nations and territories has been compared, taking into account each continent's installed PV capabilities and concentrated solar power. The literature review shows that there are still major gaps in the field of solar energy, even though the installed capacity of solar energy worldwide increased by almost 22% between 2021 and 2022. By building more solar farms, the solar PV industry can grow to become the second most important generating source in the next three decades, enabling nations to produce about 25% of the world's total electricity demands by 2050. The solution and the force behind all of the energy we currently have and will utilize for some time to come is solar energy and its derivatives. Yet, it will take a while before it can replace existing programs, and then probably in ways we haven't yet recognized or accepted. All of the energy we consume today originates from the sun, regardless of whether it is classified as renewable or non-renewable. Current solar and thermal cells, wind, and other renewable energy sources all depend on the sun's direct rays. Increasing the direct use of solar energy through these renewables is necessary if we are to offset the non-renewable substantially. One potential obstacle or challenge to the widespread adoption of PV systems, solar thermal systems, and energy storage options is their initial cost or finances. The initial outlay needed for equipment and installation may result from financial difficulties, particularly in areas with few economic resources and infrastructure challenges.