Photovoltaics

Photovoltaics is the direct conversion of light energy, usually from sunlight, into electrical energy using solar cells. It has been used in space travel since 1958 and was later also used to power individual electrical devices such as calculators or car park ticket machines. Today, grid-connected electricity generation on roof surfaces and as ground-mounted systems is by far the most important area of application.
Photovoltaics was long regarded as the most expensive form of electricity generation using renewable energies; however, this view has now been overtaken by the significant cost reductions in system components. In 2020, the International Energy Agency stated that photovoltaic systems installed in good locations and with favourable institutional conditions are now the cheapest form of electricity generation in history. As early as 2014, the LCOE of photovoltaics in certain regions of the world was at the same level or even lower than that of fossil competitors. Taking into account the external costs of fossil power generation (i.e. damage to the environment, climate and health), solar power was already competitive before that; however, these costs were only partially internalised.