Optimizing Solar PV Systems: Balancing Cost and Efficiency for Sustainable Energy Deployment

The solar photovoltaic (PV) technology is a fundamental pillar in the worldwide quest for sustainable energy solutions. Considering the performance and efficiency of the PV panels, it is pivotal to understand the different factors that affect PV panels operation. This study focuses on the main factors that affect the PV system performance such as material properties, system design factors and cost effects. Crystalline material used to make PV panels exhibit electrical characteristics, examining these improves the open circuit voltage (Voc) and efficiency of the PV panel, these characteristics were clearly examined in this study. Examining these provides us insights of the ideal materials to use in the production of PV panels. Effects of Lithium-ion concentration on cell performance, temperature dependency of PV system parameters, and mismatch factor (M-factor) among various PV system technologies were thoroughly examined in this study. This study also examined the complexities such as capital outlay and integration of energy storage systems required in the implementation of PV system. By performing an extensive analysis on cost-effectiveness and performance aspects related to different system elements, this research attempts to give useful suggestions for optimizing PV system design and operation.This paper provides a holistic view on the factors influencing the performance and efficiency of solar photovoltaic (PV) systems in sustainability. Evaluation of M-factor values within various PV cell categories reveals matching with respect to incident light spectrum that can be used for efficient solar power generation and advancing renewable energy technologies.