Technologies collectively known as concentrating photovoltaics are starting to enjoy their day in the sun, thanks to advances in solar cells, which absorb light and convert it into electricity, and the mirror- or lens-based concentrator systems that focus light on them. The technology could soon make solar power as cheap as electricity from the grid.
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“I’d much rather make a few square miles of plastic lenses–it would cost me less–than a few square miles of silicon solar cells,” Olson says. Today solar power is still more expensive than electricity from the grid, but concentrator technology has the potential to change this. Indeed, if manufacturers can meet the challenges of ramping up production and selling, distributing, and installing the systems, their prices could easily meet prices for electricity from the grid, says solar-industry analyst Michael Rogol