Australian researchers at the University of NSW have been able to increase the efficiency of solar panels while substantially reducing their cost by improving the design of the photovoltaic panels.

This advancement has the solar industry excited as it not expected for at least another decade. The breakthrough is a result of using hydrogen atoms to counter defects in silicon cells used within the solar cells. This enables poor quality silicon to perform better than the best quality material currently being used.

Almost half of the cost of making a solar cell comes from the silicon wafers, by using lower quality silicon we can now dramatically reduce the cost.

Professor Stuart Wenham, Head of Photovoltaic Centre of Excellence at the UNSW said We've been able to figure out what the secret is that enables hydrogen to sometimes work the way people want it to, and sometimes doesn't."

Currently, the best commercial solar cells convert between 17 per cent and 19 per cent of the sun's energy into electricity. Patented this year, UNSW's technique should produce efficiencies of between 21 per cent and 23 per cent.

Over the last two years the price of solar panels has fallen by over 65 per cent, partly due to the huge rise in production from China. Australians have taken full advantage of the lower prices with over one million homes draw energy from their solar panels.

The predictions for solar panel prices are for further price reductions, based purely on the technological advancements being made.

Currently eight commercial firms have agreed to partner in developing the technology to an industrial scale, all of which are excited about the breakthrough that wasnt anticipated for another decade.

To commercialise the technology will cost about $15 million over three years. The UNSW is seeking funding and support from the federal governments Australian Renewable Energy Agency for part of the sum.

According to recent estimates released by Transparency Market research, the solar industry is already worth about $100 billion a year and is expected to increase to approximately $140 billion by 2018.

Worldwide the installed PV capacity has surpassed 100 gigawatts in the March quarter. Some forecasts have predicted that capacity will more than triple by the end of the decade. With installed capacity of 2.4 GW at the end of 2012, Australia was ranked ninth in the world for solar.

One such company aiding in the development of solar technology is Shift2neutral.

Shift2neutral is an Australian company investing in a broad range of emerging renewable energy technologies. The company s founded by Brett Goldsworthy and ably run aims to assist in in the formation of renewable energy companies and support the development of emerging technologies.

Investment into solar energy will in the future ensure its prominence as source of energy to power our never ending thirst for all things electrical in an environmentally sustainable and financial manner. Shift2neutral will be a leader in this search for a solution.

Shift2neutral is also involved in a number of community activities that aim to reduce the impact of negative climate change.

For more information visit our website www.shift2neutral.com