Opportunities for emerging PV technologiesTo achieve the lowest possible levelized cost of electricity (LCOE) in a given location, a PV system should have a low upfront cost ($ W -1 ), long lifetime (years), high energy yield (kWh kW -1 per year), and low cost of capital (%) (Jones-Albertus et al 2016).These economic metrics directly drive the technology metrics and primary goals for PV research and development.The upfront system cost is composed of module and non-module (balance-ofsystem, or BOS) costs.Many BOS cost components-including the cost of inverters, grid interconnection, inspection, permitting, taxes, and business overhead, among others-cannot be directly mitigated by improving PV technology.However, PV researchers can still help reduce both module and selected non-module costs.To reduce module costs, one can use low-cost materials, reduce raw materials usage (g W -1 ), and reduce module manufacturing time, labor, equipment, and energy requirements ($ m -2 or $ W -1 ).To reduce non-module costs, one can increase the module solar-to-electric power conversion efficiency (% or W m -2 ) and simplify transportation and installation.The system lifetime depends on the rate at which system performance degrades and informs projections of the system's practical operating lifetime.To extend the module and system lifetime-specified as T80, the time to reach 80% of the initial power output-PV technology research aims to reduce cell and module degradation rates (%/year).Performance stability must be evaluated under different environmental and operating conditions, such as elevated humidity and temperature, temperature and voltage cycling, and varying illumination levels.The energy yield represents the real-world system performance, and is directly related to system performance metrics such as capacity factor and performance ratio (Jean et al 2015).To maximize energy yield, one can use solar tracking or develop strategies to improve cell and module power output under low light, off-angle illumination, spectral variations, high temperature, and other non-ideal conditions -ideally without increasing module costs substantially.
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