Renewable Energy: Accelerating the Energy Transition

The world faces two major challenges; ever-growing energy demand and climate change. Renewable energy resources can meet both challenges; in this direction, leaders, investors, and researchers have shown great interest in this field in the last decade. Initially, wind energy gained momentum, but in the last 10 years, investors, scientists, and businessmen have favored solar energy-based resources. It is mainly due to its modularity, ease of installation, and safe working conditions, unlike wind turbines which can be installed only in certain areas. In solar energy, photovoltaic (PV) panels are the most used and researched application but nowadays, solar thermal energy-based applications have also gained momentum. Solar thermal energy-based appliances can reduce the burden on electricity consumption in specific applications like heating, cooling, and drying in residential, commercial buildings, agriculture, and industries. The major problem with these appliances is low thermal efficiency which needs various modifications to improve their designs and working conditions.