Photovoltaics are an established, though underutilized, method for electricity generation. High costs and low conversion efficiencies have been the major bottlenecks in the development of the solar power to become a primary source of energy. Inorganic semi-conductor solar cells are well developed and are being deployed worldwide; however, the high cost of their manufacture ultimately limits their widespread acceptance as a source of renewable energy. The high cost of PV is largely due to the fact that most current fabrication technology cannot easily be implemented in a high throughput or roll-to-roll fashion. As a result, the through-put from a manufacturing facility is relatively low, and thus the cost per unit produced is high. Presently, the efficiency of Si-based cell has reached 24% but the current cost is still around $4/W. This relatively high cost is mainly due to the sophisticated and expensive production routes. It is estimated that in the near future the costs can go down to 1-1.5$/W, which is still considerably higher than the target cost of 0.33$/W.
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