Common battery technologies used in today's home PV systems include, the valve regulated lead-acid battery– a modified version of the conventional lead–acid battery, nickel–cadmium and lithium-ion batteries. Lead-acid batteries are currently the predominant technology used in small-scale, residential PV systems, due to their high reliability, low self discharge and investment and maintenance costs, despite shorter lifetime and lower energy density. However, lithium-ion batteries have the potential to replace lead-acid batteries in the near future, as they are being intensively developed and lower prices are expected due to economies of scale provided by large production facilities such as the Gigafactory 1. In addition, the Li-ion batteries of plug-in electric cars may serve as a future storage devices in a vehicle-to-grid system. Since most vehicles are parked an average of 95 percent of the time, their batteries could be used to let electricity flow from the car to the power lines and back. Other rechargeable batteries used for distributed PV systems include, sodium–sulfur and vanadium redox batteries, two prominent types of a molten salt and a flow battery, respectively.[114][115][116]
Solar power is the conversion of energy from sunlight into electricity, either directly using photovoltaics (PV), indirectly using concentrated solar power, or a combination. Concentrated solar power systems use lenses or mirrors and tracking systems to focus a large area of sunlight into a small beam. Photovoltaic cells convert light into an electric current using the photovoltaic effect.[1]
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