CalTech is reporting development of a new solar power material with 86% conversion efficiency (versus the 15% to 20% of conventional monocrystalline solar cells). Further, they report that it should be subtantially cheaper to make. If that all pans out when the material moves to production, that should mean kilowatt per square meter solar panels (1/5 the size of today's panels for a given amount of power). Even at today's prices, that would mean 20 cents or less per watt – and maybe even less, if the developers are correct about the production costs.
But the energy storage problem is still there, with no breakthroughs in sight...
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