FEAM And Solar Energy Systems

(MENAFN- EIN Presswire)

FEAM

FEAM is partnering with Boston College to create new boron-based solar energy systems to help make renewable energy more affordable and accessible.

NEW YORK, NEW YORK, USA, September 14, 2022 /EINPresswire.com / -- FEAM – 5E Advanced Materials – is partnering with Boston College to create innovative solar energy systems to help make renewable energy more affordable and accessible. With this agreement, FEAM and the Boston College team will develop boron -based solar cells that are more efficient than existing solar technology.

Solar Energy: The Future of Renewable Energy
Solar energy will play a significant role as the world looks to a future of carbon-neutral energy sources. The International Energy Agency (IEA) predicts that solar will make up 60% of the growth in global renewable capacity by 2022. In the United States, the National Renewable Energy Laboratory (NREL) anticipates that solar energy could supply up to 45% of the country's electricity by 2050.

For solar to meet this demand, the world needs scalable, efficient, and advanced technologies for absorbing, processing, and storing solar energy, and this is where boron-based solar energy systems come in.

Boron-based Solar Energy Systems
Solar energy is one of the most important renewable energy sources. Boron-based solar energy systems have boron as a key ingredient in their photovoltaic (PV) material. Solar cells transform sunlight into electricity and are the heart of any solar PV system.

The element boron is introduced to photovoltaics to boost reflectivity, lowering damage from incidental sunlight that doesn't transfer through or blend in. Boron atoms are included in the crystalline structure rather than just on the surface, which improves electrical conductivity and efficiency.

In addition, boron is used as an energy storage device for solar energy systems to hold solar energy and release it when needed. This makes it a key component in making solar power a more valuable and reliable energy source.

Response to the Research Agreement by Dr. Dinakar (Dino) Gnanamgari, FEAM CCO and CTO
Solar energy is the most promising renewable energy source. It is abundant, sustainable, and emits no greenhouse gases when used to generate electricity. However, current solar technology is inefficient and expensive.

This research agreement of FEAM with Boston College seeks to address these challenges by developing new boron-based materials that offer great potential for solar energy capture and conversion due to their unique properties. Also, this will explore the potential of a more efficient and scalable solar energy platform.

Boston College will receive funding from FEAM and work with FEAM to develop intellectual property and commercialization avenues for FEAM as it relates to the production of boron-based solar energy systems.

Response to the Research Agreement by Shih-Yuan Liu, A Boston College Professor
Boston College is at the forefront of creating boron-based compounds for use in catalysis, biomedical research, and optoelectronic substances. Boron is a fascinating element with unique chemical and elemental characteristics. Thus, the team is now more excited by the prospects of solar energy, given how it can help combat climate change.

With the agreement with FEAM, the team can produce boron advanced materials that directly transform solar energy into a high-energy fuel that can be stored.

Since their vertical integration and thought leadership enables a seamless transition from fundamental research to model development and large-scale production, Boston College is happy to collaborate with FEAM on this project.

Solar Energy Market Analysis
The solar energy market is expected to reach US $368.63 billion by 2030, up from US $197.23 billion in 2021, according to a new report by Globe Newswire. The market is anticipated to grow at a compound annual growth rate (CAGR) of 7.2% between 2021 and 2030.

Technology Outlook
Globe Newswire has segmented the global solar energy market based on technology, application, and region:

Photovoltaic Systems (Thin film, Moni-Si, Multi-Si, and Others)
Concentrated Solar Energy Systems (Fresnel reflectors, Solar power tower, Parabolic trough, and Dish Stirling)
The solar energy market is expected to grow significantly in the coming years due to the rising acceptance of renewable energy sources and falling PV system prices. The Photovoltaic (PV) systems segment will lead the global market, gaining a market share of almost 70% in 2020 due to the rising demand for PV systems of all sizes, from portable and small residential applications to large industrial applications. In addition, government policies and incentives are playing a key role in promoting the use of solar power, which is expected to drive market growth further.

Applications Outlook
Electricity Generation
Heating
Lighting
Charging
With more than 35% of the global demand for solar energy in 2020, the industrial sector is the biggest consumer. The demand for affordable and sustainable energy sources has fuelled the sector's recent rapid growth, leading to the potential for industrial solar power uses.

However, due to increased consumer knowledge of the health and environmental advantages of solar electricity, the residential sector is the one that is expanding at the fastest rate. This will probably encourage its market growth in the residential sector in the coming years.

Regional Outlook
Latin America
North America
Europe
Middle East & Africa (MEA)
Asia-Pacific
The Asia-Pacific region led the solar energy market in 2020, with a market share of over 30%. This results from the region's enormous population, which offers a sizeable consumer base. In addition, China, Japan, and India are among the top nations in solar energy consumption. During the projection period, North America is anticipated to grow notably, with the United States having the region's largest share of solar energy use.

About Boston College
Boston College is a private research institution in Chestnut Hill, Massachusetts. The university has more than 9,000 undergraduate and approximately 5,000 graduate students. Founded in 1863 by the Jesuit Society to serve the educational needs of Boston's largely Irish and Catholic immigrant population, Boston College is a member of the Association of Jesuit Colleges and Universities.

Boston College is dedicated to giving its students a top-notch education rooted in the liberal arts tradition. The institution offers a variety of graduate and undergraduate programs that help students succeed in their chosen fields of study. The institution offers a variety of innovative programs to help students succeed in college and beyond.

Brendan McMahon
BORATES TODAY
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