Applications of Sustainable Business Models for PV Systems in Developing Countries

Abstract

The global push to boost the adoption of renewable energy resources and decrease our dependency on fossil fuels for electricity generation has experienced substantial growth. Solar Photovoltaic (PV) panels have now achieved a level of extensive implementation and global economic feasibility. These panels, compact and resilient, require only sunlight exposure to generate electricity. Since their commercial use began in Europe in the 1990s, solar PV power has been electrifying countless households worldwide and providing energy access to numerous remote communities in less developed regions. As a result, the extensive global deployment of solar energy systems strengthens the energy industry and fosters job growth, thereby facilitating substantial progress. This study emphasizes the importance of Photovoltaic (PV) technologies and their contribution to advancing sustainability, particularly in emerging economies. It provides valuable perspectives and examinations of the sustainability of solar energy, covering both ecological and economic facets.Furthermore, it delineates the crucial contribution of PV technologies to sustainable development, as they meet energy needs, create job prospects, and enhance environmental conservation initiatives.