A comprehensive review of solar energy systems: Technical, economic, and environmental perspectives for sustainable development

Abstract

The pressing need for sustainable energy solutions is highlighted by the depletion of non-renewable energy sources and its effects on the environment. One of the most plentiful renewable resources, solar energy is a viable substitute to slow down global warming and improve energy security. However, geographical factors and technology developments determine its effectiveness, economic feasibility, and environmental advantages. The technical performance, economic viability, and sustainability potential of solar energy systems—photovoltaic (PV), photovoltaic-thermal (PV/T), concentrated solar power (CSP), and hybrid systems—are all thoroughly examined in this paper. This analysis contrasts various systems, stressing important economic metrics like Levelized Cost of Energy (LCOE) and environmental advantages like carbon reduction, in contrast to earlier research that concentrated on a single technology. A thorough examination of the literature was done, evaluating solar systems according to their cost, efficiency, and ability to reduce emissions in different climates. According to the results, hybrid solar and CSP systems outperform fossil fuels in terms of efficiency. PV and PV/T systems have the lowest LCOEs in terms of economics, at $0.11/kWh and $0.02/kWh, respectively. While CSP varied between $0.1219/kWh and $0.1722/kWh, hybrid systems ranged from $0.0589/kWh to $0.585/kWh. Emissions are reduced by 9.1 t CO₂/kWh with PV systems and 3.92 t CO₂/kWh with CSP. The necessity of optimizing solar technology to increase efficiency and lower prices is highlighted by this study. Solar energy has the potential to significantly contribute to the worldwide shift to sustainable energy by overcoming technological and financial obstacles.