Is Solar Technology Getting its Day in the Sun?

In the seemingly traditional world of solar technology, the march toward sustainable energy solutions is much more than a battle between efficiency and cost. Singularity Think Tank Expert Matthieu Despeisse, PhD, Head of Solar Modules at the Swiss Centre for Electronics and Microtechnology (CSEM) — a leading research and development center — unearths the latest key technological advancements and their applications, from colored panels to solar-powered stratospheric balloons.

A Closer Look at Applied Solar Innovations

One of the most exciting areas of development in solar technology revolves around module innovation. Solar modules are the cornerstone of photovoltaic systems. While transforming sunlight directly into electricity remains the core concept of solar cells, the design and technological makeup of solar modules have witnessed significant advancements in recent decades.

Each generation of solar modules not only aims to enhance efficiency but also endeavors to address the specific needs of various applications, from urban building integration to agriculture. Innovations seek to balance efficiency, weight, durability, and aesthetics, ensuring that solar solutions meet the demands of a changing world. Among the advancements in solar module applications, Despeisse highlights building integration and specialty photovoltaics as promising areas. “In the building space, applications are undergoing a transformative phase with the integration of solar technologies into the building’s design,” he notes. Speaking to the increased demand for such solutions, CSEM partners with industry leading solar panel manufacturers and wafer film producers to co-develop color customized elements that better blend in with the architectural aesthetics and thus allow more of a building’s surface to be covered with solar panels.

Another area of interest concerns specialty integrated PVs. “This is a realm where solar technology applications get truly diverse,” observes Despeisse. “In maritime applications, lightweight PV modules are reshaping boats, making them more energy efficient. Containers fitted with PV modules can help ensure the safe and energy-efficient transit of products that need to be kept at specific temperatures, such as medicines while transported on aircrafts. In stratospheric balloons, solar technology is enabling the design of high-altitude applications, and an emerging application known as AgriVoltaics uses PV panels to have dual use in shielding crops from excess light, hail, and rain while simultaneously harnessing solar energy. Finally, wearables (like Tissot’s solar-powered watch) and mobile devices are increasingly fitted with small solar panels to extend battery life.

Solar’s Geopolitics

As innovation progresses, geopolitical considerations linked with PV manufacturing are increasingly coming to the fore. With historical concerns about intellectual property rights, technology copying by Asian manufacturers, and regional tensions, there’s a marked effort to shift PV manufacturing back to European soils. Countries such as Germany are at the forefront of this drive, supported by companies like Meyer Burger.

This “reshoring” initiative is further bolstered by the discernible difference in CO2 emissions between European and Chinese PV manufacturing. Adopting renewable energy sources and enhancing localized production can pave the way for an even more sustainable and environmentally-friendly solar industry.

Manufacturing and Materials

The process of transforming sand into a solar module involves intricate steps. Starting from polysilicon extraction to the eventual assembly of solar cells into modules, advancements are ever-present. “Aided by technology transfers from the glass-cutting industry, the production of silicon wafers has become more efficient, leading to significant savings in material costs,” explains Despeisse.

“Furthermore, the industry has witnessed a rising interest in newer materials like perovskites. By combining silicon heterojunction cells with perovskite structures we can augment solar efficiency dramatically. However, the application of such compounds is not without challenges, especially with achieving a similar lifetime compared to mature silicon technologies,” he explains.

Solar’s Bright Future

The solar sector’s evolution paints a vivid picture of technological breakthroughs, innovative applications, and environmental cognizance. With a clear focus on augmenting efficiency and reliability, trimming down module weights, and designing specialized solutions, the industry is poised to deliver diversified offerings tailored to various needs.

For investors, the solar sector remains a challenging playground populated with a multitude of Asian producers. However, as European value chains come online and new material applications are on the horizon, it is an area we keep monitoring for opportunities with great interest and excitement.

About Matthieu Despeisse

Under the leadership of Matthieu Despeisse, a diligent effort to pioneer innovations in the solar world unfolds at CSEM. Historically, the institution has been integral in fostering advancements in manufacturing, digitalization, and sustainable energy. Within the realm of sustainable energy, CSEM’s primary focus areas revolve around photovoltaics (PV), solar buildings, mobile harvesters, digital grids, and storage.

Despeisse’s rich history with photovoltaics, dating back to 2008, has positioned him as a leading expert in this journey. Collaborating with various industry heavyweights like Meyer Burger and engaging deeply in perovskite research, CSEM is gearing up to contribute to the ground-breaking solutions that will power a plethora of applications.

About The Singularity Group

The Singularity Group (TSG) makes applied innovation investable in listed equities. TSG is the initiator of the Singularity Index™ (Bloomberg ticker: NQ2045), a global, all-sector benchmark and gold standard for applied innovation. The Singularity Strategies include The Singularity Fund (UCITS Lux), Singularity Reshoring(UBS AMC), and the Singularity Small&Mid (UBS AMC). The Swiss investment advisory boutique works closely with the Singularity Think Tank, a network of entrepreneurs and academics with deep insights into innovation value chains. Their input forms the foundation of TSG’s proprietary innovation scoring system that quantifies the engagement of companies within a set of curated Singularity Sectors worldwide across all market capitalizations and industries. The Singularity Innovation Score (SI-Score; see below) defines how much value listed companies are generating through applied innovation.

More: www.singularity-group.com

The Singularity Innovation Score (SI-Score): A company’s SI-Score represents the percentage of its revenues associated with innovation. It reflects a company’s ability to create innovation- versus commoditized -business and -cash flows, and its ability to participate in technological evolution. Changes in the SI-Score are just as important as the absolute value. A company’s SI-Score relative to its overall GICS sector can say a lot about the competitive standing and ability to gain and maintain market share. Regional SI-Scores can be used to evaluate the innovation power of markets as well as to gauge companies’ standing in different regions.

Innovation Revenues: 4% of a 74 trillion USD global market: In 2022, the total revenues generated by the World’s listed equities amounted to USD 74 Trillion. TSG’s unique expert-led innovation screening and scoring methodology allows us to divide that amount into innovation revenues and non-innovation revenues. In 2022, roughly 4% (USD 3 Trillion) of global revenues qualified as innovation revenues.