Long-Term Viability of Solar Power Modules: A Comprehensive Review of Financial, Technical, and Ecological Parameters
List of Authors
Abdul Razif Abdul Karim, Ganthan Narayana Samy, Noor Fawazi Md Noor Rudin, Nurazean Maarop, Roslina Mohammad, Rozzeta Dolah, Sa'ardin Abdul Aziz, Song Kok Sing
Keyword
solar power modules, renewable power transition, Photovoltaic and CSP technologies, hybrid solar modules, power efficacy and LCOE, sustainability and reduction of carbon
Abstract
The depletion of fossil fuel reserves and their detrimental environmental effects underscore the urgent need for sustainable energy alternatives. Solar energy, as an abundant and renewable resource, provides a viable solution for mitigating climate change and enhancing energy security. This study offers a comprehensive evaluation of the technical effectiveness, financial feasibility, and long-term reliability of various solar energy systems, including photovoltaic (PV), photovoltaic-thermal (PV/T), concentrated solar power (CSP), and hybrid modules. This review compares various systems across different geographic regions, employing key criteria such as Levelized Cost of Energy (LCOE) and carbon dioxide (CO₂) reduction potential, unlike previous studies that focused on individual technologies. Research indicates that CSP and hybrid systems demonstrate improved energy efficiency relative to fossil fuel sources, whereas PV and PV/T modules show the lowest LCOE, recorded at $0.11/kWh and $0.02/kWh, respectively. PV and CSP systems provide significant environmental benefits, achieving reductions of 9.1 and 3.92 tonnes of CO₂ per kilowatt-hour, respectively. The findings highlight the critical need to optimise solar technologies to enhance efficiency and reduce costs. Solar energy plays a vital role in the global transition to a low-carbon energy future, addressing both economic and environmental challenges.