A solar panel is an instrument that is used for the purpose of collecting solar energy and then changing it into heat or electricity that may be utilized by residential or commercial buildings in its vicinity. The solar photovoltaic panels excite the atoms that are present within the silicon layer that is between the protector panels that are normally two in number. The electrons that are created from the atoms that have been excited make an electric current, which is then utilized by external devices.
The solar panels were once used for the purpose of heating water in homes. Solar panels may also be made by mirrors that are shaped in a special way and are able to focus light into a tube containing oil. Once the oil is heated up it went through a utensil that contained water. The steam that was created as a result was used to operate a turbine for the purposes of generating power.
The solar panels were invented in 1839 by Antoine Cesar Becquerel, who was a French scientist trained in physics. He found the photovoltaic effect when he was doing an experiment on an electrolytic cell. This electrolytic cell was made up of a couple of metal electrodes that had been placed within an electrolyte solution. Becquerel found out that upon being exposed to light the amount of electricity being generated went up. Charles Fritts constructed the initial solar cell in 1833.
The solar cell built by Charles Fritts was made by applying a lean layer of gold on selenium sheets. During the years from 1883 and 1941 a number of entities ranging from scientists, companies and investors carried on experiments with the solar cell. In this time period the original commercial water power heater that was operated with the help of solar energy was patented by Clarence Kemp who was an inventor from Baltimore, USA. Around this time came out with a thesis on the issue of photoelectric effect. He got a Nobel Prize for Physics later on.
William Bailey, who worked at the Carnegie Steel Company, came up with the original solar collector that had a copper coil in a box that was insulated. Russell Ohl, who was an inventor in the USA and had been employed by Bell Laboratories, patented the original solar cell made by using silicon.
This led to the production of the original solar panel that was crystalline and made using silicon by the Bell Laboratories in the year 1954. As much as 4% return was obtained on conversion of energy by the crystalline solar panel. The scientists worked over the next few years in order to improve the efficiency of the particular solar panel. As a result of these procedures new solar cells were made that had 6% efficiency.
The solar panels were used on a large scale for the first time in the space satellites. In 1980 the United States of America came out with solar cells that had 20% efficiency as a result of researches that were sponsored by the Federal Government. By the year 2000 the efficiency of these panels went up to 24%. The major names in the solar panels and cells industry are Emcore Photovoltaics that are capable of producing solar cells and planets that have 28% efficiency.
There is a new bank on UK's High Street. While Virgin Money has been around since 1995,the company only came into serious prominence when it finalised the deal to acquire troubled bank Northern Rock on the 1st of January this year. But will the deal to take over Northern Rock be a good result for the public who bailed out the bank during the financial crisis? And what impact will Virgin Money have on the UK's banking sector?
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Professor at Columbia University. Recipient of the Nobel Memorial Prize in Economic Sciences in 2001 & the John Bates Clark Medal in 1979. Author of "Freefall: America, Free Markets", "The Sinking of the World Economy", "Globalisation and its Discontents" & "Making Globalisation Work".
Nouriel Roubini, a.k.a. “Doctor Doom”, is chairman of Roubini Global Economics and professor of economics at New York University’s Stern School of Business. Roubini has been consistently cited as one of the world’s top global thinkers. This year, he was voted as the most influential economist in the world by Forbes magazine.
CEO and co-CIO of PIMCO. Served as President and CEO of the Harvard Management Company for 2 years, while also working at the IMF for 15 years. In 2008, his book "When Markets Collide", won the Financial Times award for Business Book of The Year in addition to being named as the one of the best business books of all time by The Independent.