New solar cell technology is less efficient but more cost effective

Solar power has long been sought after as a solution to our global energy needs. The reason is rather obvious, as the sun never fails to rise in the morning and set at night. Solar power makes especially good sense where sunlight is abundant. Arid areas which have low populations would make excellent sites for large solar arrays. One problem which always has and continues to face solar is the high price of admission. As long as it is significantly cheaper to use far dirtier methods of power generation, solar will continue to take a back seat.

Lowering the cost of solar power might soon be a reality with new plastic solar cell technology developed by a team of Korean researchers. The cost is reduced due to the lack of silicon semiconductors in the cell. The cost per watt for the new cells is 10 cents, while existing solar cells cost $2.30 per watt. Lee Kwang-hee of the Gwangju Institute of Science and Technology said that the team hopes to commercialize the new technology by 2012.

[Source: Chosun via Engadget]