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How Is Virtual Reality In Sports Improving Experience?

As cricket’s frenzy dawned with the onset of the Cricket World Cup 2023 in India, around one-third of the world seemed gripped by the sport’s fever. Coupled with its humongous following, it has led the sport to infuse billions of dollars into the video game or virtual gaming industry. Companies are capitalizing on merchandise and high-end video games to make the most of cricket’s opportunity.

Cricket, fans, and virtual reality can be considered a perfect trilogy. Cricket has over 2.5 billion fans worldwide, second to only soccer fans. Visibly, today, cricket has been transformed more into a 360-degree product. Cricket lovers want to experience their sporting religion replete with technological sundries.

Virtual Reality in Sports: Capitalizing AR-VR Market During Cricket World Cup 2023

The AR-VR market is growing daily and reached US$31.12bn in 2023. Anticipated revenue growth from 2023 to 2027 is set at a compound annual growth rate (CAGR) of 13.72%, projected to yield a market volume of US$52.05 billion by 2027.

The global metaverse market was estimated at 65.5 billion U.S. dollars in 2022. It is anticipated to increase to 82 billion U.S. dollars in 2023 and then experience a significant surge, reaching 936.6 billion U.S. dollars by 2030.

Cricket enthusiasts use VR headsets to enjoy an immersive 360 cricketing experience from the comfort of their homes. iB cricket has brought fans, and the Metaverse is enhancing the online experience. With the ICC Cricket World Cup 2023 approaching soon, more people are keen on exploring VR tech to take their fan experience to the next level. Online and offline sports experiences have intertwined in the light of next-level augmented sports offerings. In the virtual world, fans can access their favorite players’/teams’ breakout sessions and live chat options and play the game. Moreover, they can have fun with, among many other features. In this blog, we bring you closer to the world of VR in sports and how Metaverse has entered the cricket arena.

Virtual Reality in Sports: iB Cricket

Imagine entering the fully packed lookalike Eden Gardens Stadium, the Oval, or the MCG stadium and holding a customized cricket bat. iB Cricket has made this a reality, and one can fully immerse themselves in the game of cricket. Now, even one can go for pro-game options like the Play the Ultra Insane Difficulty game, Pro Tournament, and PVR vs. Battle.

Virtual reality in sports: IB Cricket VR experience

Source: iB Cricket

ICC World Cup 2023

Ten world-class cricket teams faced each other in the 13th ODI Cricket World Cup from 5 October to 19 November 2023. Virtual reality was a considerable part of the ICC Cricket World Cup 2023, which saw a $2.4 Billion/19932 Crore economic impact in India, the UK, and Australia alone.

Inspired by the Metaverse, 2023 CWC mascots were originals of a distant cricket utopia, Cricketverse. They were named Blaze and Tonk, and young/older fans can interact with them at stadiums and on their official app/mobile game. The International Cricket Council has sought proposals earlier for creating a Metaverse W3 experience for their younger cricket fans and to educate/engage them virtually via avatars about the Cricket World Cup 2023.

Image: ICC-Cricket

Virtual Reality in Sports: Pakistan Super League Launches Metaverse

Islamabad United, the professional Twenty20 cricket team competing in the Pakistan Super League (PSL), launches its Metaverse in Decentraland. The team’s virtual stadium is named as U-Meta Stadium. Fans and supporters can meet players’ avatars and virtually explore various areas like players’ locker rooms, fan areas, and player lounge areas in U-Meta. The Metaverse visitors in U-Meta stadium can also take part in various challenges and interactive experiences. Fans stand a chance to win digital kits, online assets, and franchises’ memorabilia. Not just this, the PSL had their player kit unveiled in the U-meta itself instead of veiling it offline.

Image: National News

Virtual Reality in Sports: ECB Board Develops ‘The Hundred’

In partnership with Sky Sports, the England & Wales Cricket Board created an AR experience app, the Hundred. The essential thought behind the idea is that fans, families, and new viewers will be able to meet the players from anywhere. The cricket hero avatars were created by Dimension Studio with motion capture technology, and the app UI was built by Unity. Cricket fans get to meet their favorite players on mobile and through WebAR in any shape and size, literally! With virtual reality and AR in action, game viewers can watch the cricket games in super slow motion. They can see in full detail the top skills of players. Enter the 360 view of the stadium and have access to all the game details from the tap of a button.

Virtual Reality in Sports: The Hundred app developed by ECB

Image: The Hundred App

Virtual Reality in Sports: NBA Next-Level Virtual Fans’ Experiences

During the SARS-CoV-2 virus, the NBA 2019-20 season created a virtual experience, with over 300 fans invited to appear live virtually to attend the game. As with the advent of 5G in India, the NBA’s app incorporates augmented, virtual, and mixed reality to bring authentic, immersive experiences to Indian NBA fans.

World over, fans interacting on the latest NBA app will see an array of new features. The feature can allow fans to scan via the app to enter live NBA games and play as virtual avatars. VR tech will make it possible to explore experiences that were impossible before. Fans can meet players at the locker rooms and see the life of a professional athlete up and personal.

Everyone can’t go to the stadium often and enjoy their favorite sport. To address this and use the latest tech, the NBA built the official esports NBA 2K League in partnership with Take-Two Interactive Software Inc. Virtual reality is making it possible for fans to consume their favorite sport in unconventional ways. Also, it may provide opportunities to win substantial cash prizes.

Virtual Reality in sports: NBA 2K League feature

Image: 2K League NBA

Play 3D Multiplayer Cricket with ‘Cricket League’

Cricket fans have choices perfectly matched with multiplayer and virtual games like Cricket League. The app allows one to play cricket from anywhere and with anyone worldwide. The game offers an excellent 3D version, smooth cricket gameplay, and over 25 characters. It also provides a chance to play cricket at a leading world location. Fans can build their dream team by winning matches and, subsequently, coins and even new types of balls to improve their winning chance.

Virtual Reality in Sports: Cricket League App

Image: Google Play

Closing Words

Cricket is often said to be an ’emotion’ that can connect diverse people instantly and profoundly. Then sport is anything that’s done as pleasure, for upping skills, and involves competitive energy. Virtual reality has made cricket sport more personalized, local, and global. As we know, the revenue for cricket mostly comes from broadcasting rights, sponsors, and, lastly, through ticketing.

It is satisfactory for ICC and other national cricket boards to diversify their revenue pool online with virtual reality offerings, Metaverse experiences, and virtual immersive games. Cricket fans, especially youngsters, are truly enjoying the VR and AR experience with friends, family, and newly found connections worldwide. These technological advancements’ appeal and approach have really brought sports professionals closer to their fans and audiences.

Watching ICC World Cup Cricket In A Smart Stadium: When Will It Be A Reality? 

Along with all the excitement and enthusiasm, the ICC World Cup 2023 piques a deep interest in the latest technological and digital developments that will raise the bar of game experience for fans and spectators in stadiums. Advancements like 5G, IoT, AI, Machine Learning, and analytics can make a big difference to the overall stadium experience, not just for the sports fans but for the operators and owners as well. With respect to cricket, a smart stadium equates to better management, energy efficiency, connectivity, accessibility, and security for all involved parties. Though the 2023 Cricket Men’s World Cup seems upgraded from a broadcasting and live-streaming perspective, smart stadiums still remain a futuristic concept. Let’s understand it first before guessing how much longer we need to wait to watch a T20 or an ODI match in a smart stadium. 

What Are Smart Stadiums? 

Smart Stadiums run on an interconnected network of sensors, cameras, and digital signs that keep the spectators and administration updated with the latest developments in and around the stadium. The system blends various advanced techs like AI, IoT, 5G, smart grids, etc. Its area of influence will range from optimizing energy consumption to crowd management, parking allotment, ticket booking,  seating arrangement, physical security, food & beverage sales, merchandise, and much more. 

Major Technological Features 

Seamless Connectivity

Normally, the connectivity network in sports stadiums is a web of public cellular networks, ethernet, and the stadium’s Wi-Fi. The cellular network’s connectivity hits a low due to the high number of devices within a small defined geographical area. WiFis are vulnerable to attacks and ethernet offers restricted network access to mobile phones. Venues across the world are investing in private 5G networks and cybersecurity systems to streamline operations and offer personalized and immersive experience to fans without hurting the revenue streams. 

For instance, Pecto Park Stadium in San Diego ensures reliable and secure seamless cellular connectivity to its 40, 000 fans by installing a 5G private network. It enabled smooth connectivity of POS devices and staff iPads and generated more revenue through faster consumer transactions, contactless mobile payments, food, beverage, and merchandise sales. 

A Small Glimpse of Pectopark Stadium Post Deployment of CBRS-Based Wireless Network

Higher Fan Engagement

Stadiums have long battled the challenge of fan engagement in the wake of rising at-home viewing and streaming services. IOT answers this problem through extensive use of sensors, extended reality, and data analytics. The data collected from sensors can be analyzed to improve the game experience for fans by fine-tuning the music, lighting, seating, and other elements to create a more immersive experience. Fan interaction through Augmented Reality apps, updating vendor offers, and keeping note of their sentimental inclinations could enhance their interest in attending live games. For instance, Levi’s Stadium in San Francisco implemented an extensive IoT setup to improve fan engagement. From mobile app integration to SeatGeek Stadium IQ, Beacon technology, and AR-based interactions, they offered a much higher personalized experience to their fans.

Image Showing Use of Beacons In Levi’s Stadium for Various Purposes

Increased Operational Efficiency 

Integration of IOT in stadiums can simplify the complications related to parking, seating directions, easing congestion, sanitation, and on-seat delivery of food and beverages. Similarly, autonomous drones can be used to clean in-between games and reduce manual labor, effort, and time. Infrastructure equipped with smart sensors will ensure predictive maintenance while reducing the chances of equipment failure during the game. 

The Allianz Arena In Munich uses a smart lighting system based on solar and geothermal power sources that adjusts the power according to the intensity of natural light. The stadium also employs IoT sensors for sustainable transportation and waste management. 

Allianz Arena’s Smart Lighting System

Smart Seating And Accessibility Features

Smart seating refers to the system where displays and sensors provide real-time updates to the attendees regarding seat availability, upgrades, concessions, and haptic feedback during the most key moments of the game. Assistive technologies can further prioritize seating arrangements for individuals with disabilities, senior citizens, and captioning services for those with different language backgrounds. Allianz Arena from Munich sets another example for this feature by providing world-class accessibility features like unobstructed views from seats for disabled people, braille signage and tactile guides for the visually impaired, wheelchairs, and assistive listening systems for those with hearing impairments.

Allianz Arena’s Special Segment For Disabled Fans

Higher Sustainability

IoT sensors can help maintain a comfortable environment within the stadium by keeping a check on temperature, humidity, air quality, and other factors that may impact the health of those attending the game. Simultaneously, data gathered from these sensors can help incorporate sustainable options like water-saving and energy-optimizing technologies that will reduce the carbon footprint of these arenas. Amazon’s Climate Pledge Arena in Seattle is garnering a lot of attention for its net-zero climate and tech-forward approach. It offers 932, 000 square feet of space with state-of-the-art facilities along with 100% renewable electric energy, “just walk out” concession stands, locally sourced compostable utensils, and much more. 

Research Breakthrough Shaping The Future Of Smart Stadiums 

  • Use of GCNN-GRU And Self-Attention mechanism for stadium security and smart grid management: The paper proposes a smart grid management and stadium security system based on a self-attention mechanism and Graph Convolutional Neural Network (GCNN) and Gated Recurrent Units (GRU). With this system, the stadium operators will be able to predict the influencing factors impacting security and smart grids empowering the arenas. The step-by-step approach presented here could resolve the energy and security-related challenges. Its accuracy in predicting trends in these two areas can play a key role in policies and strategies optimization for energy consumption and stadium security. 

Flow Chart Showing GCNN-GRU and Self-Attention Mechanism Model

  • Intelligent Service Mode of Digital Stadiums: The paper proposes that the intelligence level of digital stadiums in smart cities will be channeled by a key application of stadium information technology – the management information system. Also, it is an inevitable trend that will ensure better consumer experience, efficient functional innovation of various management processes,  and important tech applications. 

Development Goal Orientation For Digital Stadiums

  • Application of AI technology to maintain the low carbon economy of smart stadiums: The research paper explores the use of Artificial intelligence (AI) in stadium management with respect to low carbon emissions. It offers several innovative approaches to improve stadium control and some novel methods to optimize electricity consumption. Moreover, from efficient integration of construction machinery in building processes to optimizing electrical setups, the paper takes care of everything. 

Application of Artificial Intelligence In Smart Stadiums To Reduce Carbon Footprints

Final Word

It’s true that the 2023 ICC World Cup will be highly focused on engaging spectators sitting at homes and in distant corners of the world, the transformation of stadiums along lines of sustainable and smart technologies is also just around the corner. So, yes it is safe to assume that in the 2027 World Cup, you might be sitting outside a cricket venue enjoying the game as immersively as those sitting in VIP boxes. From an investment perspective, stadiums can be a key revenue stream for host sports organizations and thus should be upgraded to ensure long-term financial viability. 

Digital Twin Technology for Banking and FinTech

One will agree that financial or generic success is doing what you want when you want, where you want, and as much as you want. These three, open banking, payment rails, and Fintech, are aggrandizing the embedded pecuniary products and service delivery. Financial digitalization started in 1990, accelerated during/post-pandemic, and is currently a win-win for customers, BFSI providers, and regulators. The Neobanking market, Digital twin technology for the next generation, and Fintech are bringing uninsured and non-customers to banks.

What is Digital Twin?

A digital twin gives an accurate picture or representation of a physical object through a virtual form. A system is designed to reflect it precisely. It reviews an object’s lifecycle and incorporates technical prowess, including logical reasoning, machine learning, and simulation, for decisiveness. Moreover, it accentuates real-time data to present the proper image or graphics.

Active Online Banking Users

As per Statista findings, the number of active online banking users worldwide will be 2366.9 Million in 2023; by 2024, they will reach 2551.8 Million. Britain had 93% online banking usage as of 2022, 78% preferred online banking in America (2022), and Europe had over 96% penetration of online banking. There are 904 million online payment users in China, and the Asian market is the largest virtual banking market. With the above numbers, it’s clear that the digitalization of the banking sector is growing by leaps and bounds.

Digital Twin: Active online banking users worldwide

Figure 1 Digital Twin Technology: Active online banking users worldwide

SupTech, Neobanking, ESG compliance, Robotic Process Automation (RPA), Bank-as-a-Service (BaaS), personalized banking, and predictive analysis are changing the role of digital twin technology and digitalization in the global BFSI industry. This blog shares insights on how hybrid and standalone digital prototypes shape the global banking, financial services, and insurance sectors.

Open Banking Legislation & FinTech

The financial industry has always accessed technology, starting in early 1994 with names like PayPal and NetBank. Fintech has moved from the inception phase to Venture Capital investments and is now at a peak collaboration phase.

With the proliferation of hundreds of online financial apps/tools, the need to monitor and regulate these Fintech providers has become paramount. Major global banks like DBS, Citi Bank, JPMorgan Chase, U.S. Bank, American Express, and many other key financial institutions have created digital twins of their prime services, processes, and customers.

The banks offer their bank APIs online to developers to create other value-added services for their customers. Many countries are enacting open banking legislation to safeguard the best interests of banks and their customers. This helps customers know the registered third-party providers associated with their respective banks.

Introduction By Europe

Europe introduced a revised Payment Services Directive (PSD2), under which banks were mandated to allow customers to securely share their account information with Fintech, Third Party Providers (TPP), and registered non-financial institutions. Mastercard’s Open Banking Tracker for Q2 2022 (developed by MasterCard) shows 559 third-party providers are registered to provide payment initiation services with National Competent Authority in Europe. 

The U.K. already has open banking regulations and is working on premium APIs. Likewise, Australia has open banking that allows customers and banks to share their bank details with Fintech and non-financial service providers. Open banking regulations help protect banks and customers from unapproved TPP and data/financial frauds. China has started the process of regulating bank API and API aggregators. Singapore and Hong Kong, too, focus on open API for banks, which will help SMEs and third-party aggregators launch their offerings officially and quickly. India, Japan, and South Korea have yet to develop supervisory law around this fully. 

DT, Robotic Process Automation, and Underwriting

Digital Twin Technology (DT) are virtual models encompassing physical versions of processes, data, customers, products, social media interactions, and hundreds of interconnected parameters with artificial intelligence. DT serves as a counterpart/twin of their physical version and the highly advanced use of Information and Communication Technologies (ICT). Digital Twin uses Artificial Intelligence (AI), scalable Machine Learning, Neural Machine Learning, and Natural Language Processing (NLP).  

Financial Digital Twin uses advanced and innovative application programming interfaces (API) to open new customer accounts. Offline banks with their digital twin asset (i.e., apps) get customer onboarding and verification, called Customer Due Diligence (CDD), done seamlessly online.

Digital Twin Revolution: Banking-As-a-Service

As non-banking entities, Fintech utilizes banking as a service (Baas) to aggregate outside data in their own data sets. Many financial start-ups and companies work in the robo-advisor and loan disbursement business. Here are a few notable ones:

Affirm: It’s a Buy Now and Pay Later (BNPL) app/service with the option of entirely zero interest for four payments every two weeks and clear interest charges consequently. For businesses, they have flexible payment options. Merchants’ customers can select flexible purchase options, which helps increase revenue for SMEs. Affirm offers an annual percentage rate (APR) for loans, and the service is worth it for those looking at a flexible loan repayment method with zero late fees.

Upstart: It is again a U.S.-based loan provider that lets one avail of a personal and car loan at a low fixed rate and is entirely A.I.-based. Also, with AI loan approval, the deserving ones mostly get their loan approved.

Zilch: The app works in U.S. and U.K. and makes online purchases easy. U.S. customers can pay in 4 weeks, with 0% APR and zero fees.

Coinbase: There are over 120 coins available on Coinbase for buying and selling cryptocurrencies. 

Funding Circle: This is a UK-based online business loan provider with a flexible, interest-free line of credit for SMEs. It is a peer-to-peer lending website for quick FlexiPay.

Plaid: It includes a tie-up with financial entities for various use cases, such as personal finances, lending/loan, wealth management, consumer payment, digital banking, and business finances. It offers access to various apps powered by it, and all the information shared remains secure through its APIs and GitHub.

Proliferation of Neobanking and Robot Advisory

Digital-only banks have gained traction in the last year. This is particularly true as people, especially the younger generation, prefer to manage all their banking needs via apps. Neobanking uses cloud computing, APIs, and mobile apps to deliver accessible banking anytime and anywhere. According to Statista report, the Neobanking global market is expected to grow at a CAGR of 53.4% between the periods of 2021-2030. Also, there are currently over 276 neo-banks in the world. So, we can say both Banks and their Third Party Partners (TPP) are using APIs, ‘the common tech’ to create digital twins of their services.

Digital Twin Technology: Neo banks market size

Figure 2: Neo banks market size

Neobanks like Nubank in Brazil, Chime in the U.S., and Revolut in the U.K. are currently leading online-only banks. Nu is operational in Brazil, Mexico, and Colombia, with 70 million customers as of 2022. Despite operating as a brick-and-mortarless bank, it offers several features. These include a zero account opening fee and the ability to send/receive payments at no cost. The bank also provides digital salary portability, credit card and loan services, investment options, FGTS aid syncing, and the convenience of debit card/cash withdrawals. Nubank service for business accounts also includes Nutap for quick and contactless payment and other banking facilities.

Chime, a U.S.-based financial technology company, has over 14.5 million customers. The benefits comprise a free debit card and the Chime Spotme fee-free overdraft. Additionally, users get a credit-building facility, early access to payment through direct deposit, and access to over 60,000 fee-free ATMs. Furthermore, they can enjoy a high-yield savings account with a 2% APY.

One can also send checks using the Chime checking account. Like all financial dealings, Chime Neobank also has its terms and conditions. These include features like early access to direct deposit and dependent payment files from the payer.

Digital Twin Technology: Roboadvisor Weath-As-a-Service

Robo-advisor technology is a wealth management app and web-based investment and savings tools created with A.I.-based APIs. The robo-advisor provides low-cost financial advice on various aspects, such as building wealth and investing in a specific goal. It also offers guidance for investing in retirement and crypto, like U.S.-based Betterment.

Sofi is an algorithm investing service that actively invests in personal goals, recurring deposits (RD), automated investing, individual retirement accounts (IRAs), IPO investing, and ETFs. The Robo-advisor market is seeing robust growth and is expected to reach $3.19 trillion worldwide by 2027. Robo advisor apps mostly offer zero fees on automated investing. Additionally, they generally charge lower fees compared to financial advisors for other investment advice. The other key Robo-advisor apps are E*TRADE Core, Fidelity Go, SigFig, Vanguard, Ellevest, and more.

Digital Twin Technology: Need For RegTech, SupTech and ESGs

Both offline and online banks have grave compliance and regulatory concerns. Concerns exist about money laundering, bad loans, account verification, fulfilling claims, phishing, and card scams. Also, new apps that verify customers with image, handwriting verification, and other RegTech solutions are supporting the banking industry in reducing financial fraud. With Neobanking, the impact on energy and resource savings will be big, and it is a forward-looking approach. Blockchain, digital currencies, and bolstered financial transactions make supervisory technology (SupTech) essential for a fluid and strong economy.

Conclusion

Banking and investment are necessities for everyone for obvious reasons. A significant gap exists in access to banking services among different groups of people. Some individuals have easy access to banking tools, while others are unable to avail themselves of such services. The Neobanking market, Digital twin, and Fintech are bringing uninsured and non-customers to banks. However, it is yet to be seen how neobanks will be able to regulate the transactions and investment portfolios fully and how they will be able to minimize fraud and black money. Moreover, SupTech is in the process of development, and it needs to construct more robust systems to safeguard pro-Fintech entities – the customers and investors.

Biosimilars and Sustainability: Best Value-Driven Practice

All medicines are made of either small molecules or large molecules. Biologics are advanced therapeutic drugs made of living cells, sugars, proteins, tissues, or a mixture of these. Biosimilars as follow-on biologics are game-changers to reduce patient and payers’ health bills.  Biosimilars are made of large molecules and living cells. They show similar pharmacokinetics (P.K.) and pharmacodynamics (P.D.) results identical to their reference listed biologics/drug (RLD). Biosimilars and sustainability go hand in hand.

The road to developing biosimilars is long and more complicated than developing generic drugs. However, all the efforts are worthwhile as biosimilars can increase the accessibility of advanced medications to more patients. This blog will discuss the exhaustive biosimilar approval pathways, growth drivers, and restraint factors that are fast-changing the healthcare scene worldwide.

Generic Drugs V/S Biosimilars              

There are two widely available drugs, one either chemically synthesized Active Pharmaceutical Ingredients (APIs) or other biologically Active Pharmaceutical Ingredients (APIs). All chemically synthesized drugs have small molecules, which can be branded or generic. Conversely, biosimilars always use large molecules and have higher cynical similarity to their originator/innovator biologics.

A 5 year exclusivity period is granted to small molecule drugs that contain novel chemical entities that have never been used previously, either alone or in combination, by the FDA. In the E.U., an up to 10-year exclusivity period is provided to a generic medicinal Marketing Authorization Holder (MAH). Biologics, however, have a 12-year market exclusivity and eight-year data exclusivity period in the U.S. In the E.U., the biologics have 8+2+1 market exclusivity and eight years of data exclusivity.

 Biosimilars reach the market after the exclusivity period in any market. Below, we share some core differences between small-molecule/single-molecule drugs and large-molecule biological/biosimilar drugs.

Key differences between Small Molecule Drugs and Biological Drugs

Figure 1: Key differences between Small Molecule Drugs and Biological Drugs.

Approval Pathways for Biosimilars in the U.S.

The United States introduced the first biosimilar in 2015, filgrastim-sndz, a granulocyte colony-stimulating factor injection that treats neutropenia.

The abbreviated 351 (a) or 351 (k) approval pathways for biosimilars in the U.S. are regulated by the FDA’s Center for Drug Evaluation and Research (CDER) and Center for Biologics Evaluation and Research (CBER). As biosimilars are not generics of the reference product, they often have some microheterogeneity due to the presence of large molecules and living cells. The Biologics Price Competition and Innovation Act of 2009 (BPCI Act) simplified the road for developing generics and biosimilars.

With this act, undertakings in the biosimilar field don’t require one to include unnecessary clinical trials. Phase III clinical trials became unnecessary for biosimilar approvals post-keen PK/PD studies. However, it is imperative to demonstrate that the biosimilar must meet the quality/purity, efficacy/potency, and safety parameters.

Approval Pathways for Biosimilars in U.S

Figure 2: Approval Pathways for Biosimilars in U.S.

There are four interchangeable biosimilars approved by the FDA: Cyltezo (adalimumab-adbm), Cimerli (ranibizumab-eqrn), Rezvoglar (insulin glargine-aglr), and Semglee (insulin glargine-yfgn) which can be switched with other biosimilars in the same category without a prior prescription.

Biosimilars and Sustainability: Approval Pathways in E.U.

The first biosimilar Omnitrope (Somatropin), a human growth hormone, was approved by the E.U. in 2006. Likewise, the first biosimilar to receive approval in Japan was Somatropin in 2009. Aczicrit (epoetin lambda) was the first biosimilar to be approved in Australia in 2010. In contrast, in India, the first biosimilar (vaccine) was launched in 2000 for Hepatitis B.

In Europe, the European Medicines Agency (EMA) and the Committee for Medicinal Products for Human Use (CHMP) examine the process of marketing biosimilars. E.U. has four approval processes for biosimilars similar to generic drugs:

1. Centralised procedure

2. Decentralised procedure

3. Mutual recognition procedure

4. National procedure

The applicant has to submit the dossier according to Directive 2001/83/E.C.E.C. E.U., which also has scientific guidelines on biosimilars to develop these medicinal products. EMA and Heads of Medicines Agencies (HMA) state that biosimilars approved in the E.U. can be considered interchangeable, bringing more clarity to healthcare professionals, pharmacies, and patients to experience more ease from using biosimilars. E.U. has also made available key clinical data under the European Public Assessment Report (EPAR) program in reference to biosimilar trials so that such knowledge is freely available to biosimilar developers. This is done so that resources are not wasted in conducting previously approved tests.

Comparison of data requirements for approval of a biosimilar versus the reference medicine

Figure 3: Comparison of data requirements for approval of a biosimilar versus the reference medicine

Immunogenicity of Biosimilars

All biologics are proteins (polypeptides), and they are segmented by types like microorganisms or mammalian cells, product types like monoclonal, recombinant proteins, antisense, and vaccines. In blood research and tissue advanced research, some biologics therapeutics can result in unwanted immune responses, such as the development of anti-drug antibodies against the fused FVIII, which is given to patients with hemophilia A.

As per the clinical observation, Black African folks were more likely to develop antibodies against factor VIII proteins than patients of European Caucasian descent. It has been suggested that a personalized approach to predict and avoid this kind of immune response to FVIII proteins can be done. This can be achieved by developing specific versions of genetically engineered therapeutic proteins. The researchers are using this knowledge and collaborating with the Center for Drug Evaluation and Research (CDER) to develop biosimilars that will be safe and effective.

Recombinant Proteins and Biosimilars

Human diseases are often caused by dysfunction of specific proteins. Medical biotechnology has used recombinant protein biotherapeutics to treat various illnesses and chronic conditions. The third generation of recombinant proteins is changing the biologics and biosimilar market with novel routes, new formulations, and increased safety and efficiency.

Major Pharma companies are developing their recombinant proteins as part of their larger portfolio, with more than 170 recombinant protein drugs available in the market. The recombinant non-glycosylated protein biosimilar market is expected to grow highly. Moreover, major companies like Sandoz International GmbH, Pflizer Inc., Celltrion Healthcare Co. Ltd., Samsung, Mylan N.V.N.V., Biocon, Amgen Inc., Dr. Reddy’s Laboratories Ltd., Stada Arzneimittel AG are working in Insulin, rHGH and Interferon biosimilars development.

Biosimilars and Sustainability: Exploring New Pharmacodynamics Research

The healthcare industry is looking to expedite research in biosimilars. One way to do this is by using pharmacodynamics (P.D.) biomarkers to demonstrate biosimilarity. Biosimilar sponsors’ ultimate goal is to establish the clinical similarity of their proposed medical product to its reference product.

It was found that P.K. evaluations are more common in most FDA-approved biosimilars than P.D. similarity data. According to this study, the P.D. biomarker that shows the biological product’s mechanism (s) of action (s) can potentially be more sensitive for detecting clinically meaningful differences between two products. Thus, biomarkers that were used as secondary and exploratory endpoints in new drug development programs play a key role in biosimilar programs.

Five essential characteristics of P.D. (pharmacodynamic) biomarker for biosimilars as per FDA

Figure 4: Five essential characteristics of P.D. (pharmacodynamic) biomarker for biosimilars as per FDA.

Role of Pharmacy Benefit Managers in Biosimilar Adoption

Global inflation has been high, close to 7.0% in 2023, and major economies are taking steps to reduce inflation. With the increase in chronic diseases and high health costs, many patients avoid taking their prescriptions, thus worsening their health conditions.

The three Pharmacy Benefit Managers (PBM), namely Express Scripts, CVS Caremark, and Optum Rx, own 89% of the market. PBM negotiates and contracts with all the various types of pharmacies on reimbursement, rebates, and prescription drug coverage terms in the U.S. Also, they are owned by insurance companies Cigna, Aetna, and UnitedHealth Group, respectively. Hence, the three largest PBMs are affiliated with health plans and pharmacies; therefore, the parent company controls up to three stages of the drug supply chain.

Pharmacy Benefit Managers must give biosimilars the right place to increase their adoption. Biosimilar market penetration depends on follow-up biologics market visibility and patient/member/provider preference for them. PBMs can better understand the cost-saving biosimilarity of these drugs with pharmacies, doctors, and hospitals. With increased support for biosimilars from PBMs, cost savings are likely to be realized. As a result, patients will benefit from these lower health costs.

Advanced Technologies in Biosimilar Research

Off-patent biologics development requires the latest and advanced technologies. Their development period must decrease by 30-40% compared to the current 7-10 years. Additionally, crystallography with synchrotron light, X-ray crystallography, mass spectrometry, spectroscopy, and other newer technologies like AI will more drastically change how biosimilars are built in the future.

Biosimilars and Sustainability: Impact

In the U.S., over nine blockbuster drugs are losing exclusivity in 2023, and more biosimilars will reach the market by 2026. The value of global biosimilars will triple by 2030 and reach 74 billion. 

Biosimilar market is expected to triple by 2030

Figure 5: Biosimilar and sustainability market is expected to triple by 2030

Immunology, anti-diabetics, oncology, respiratory agents, antithrombotic, and multiple sclerosis form the leading biosimilar drug classes. Biosimilar sustainability improves the overall quality of healthcare delivery across the country. Globally, the biopharmaceutical industry, like all industries, needs more sustainable efforts. Companies developing Biologics Advanced Therapy Medicinal Products (ATMPs) and Biosimilar ATMPs need to focus on improving access to advanced therapies for one and all. There is a need to look at healthcare from a long-term perspective as today’s research becomes tomorrow’s medicines. As biosimilars have biological elements, these are less harmful to the water bodies and, hence, more sustainable.

Figure 6: Biosimilars and Sustainability outlook involving all the stakeholders.

Further, the global savings from the biosimilar market will amount to $ 383 billion between 2023 and 2027. Moreover, the savings will be most visible by 2027 as key biologics like Ibrance lose market exclusivity.

Biosimilars and Sustainability: Conclusion

As we have seen, small-molecule generics of branded drugs have brought down the cost of medicines. With four and five follow-on biologics to originator drugs, we can see that Biosimilars will become more affordable. At the developer stage, the originator manufacturer, biosimilar sponsor, and respective authorization bodies should collaborate to address patent issues and strive to minimize unnecessary clinical trials. New technologies will continue apace the biosimilar market launches.

Exploring Future Potential For Smart Coatings

Smart coatings epitomize extraordinary films endowed with predetermined attributes that grant them the faculty to diligently perceive and deftly retort to a panoply of environmental and extrinsic instigations. Additionally, the ‘smart coating’ terminology alludes to the intrinsic prowess of coatings to keenly apprehend their milieu and adeptly comport themselves in consonance with said stimuli. Broadly, the riposte exhibited by these smart coatings is contingent upon a catalyst furnished by the ambient surroundings, encompassing modulations in temperature, humidity, luminosity, chemical or biological impetuses, and the rigors of mechanical duress. 

Smart coatings, emblematic of ingenuity, reveal the propensity to harmonize with alterations in the microcosmic realm. Moreover, these coatings proffer abundant latent utilities, including safeguarding against corrosive processes and augmenting ornamental allure. Additionally, they facilitate the creation of functionally graded materials.

Brief Overview Of Smart Coatings

Smart coatings have a wide range of potential applications due to their ability to sense and respond to changes in their environment. Here are some potential applications:

  • Corrosion protection: The coatings can protect metal surfaces from corrosion by sensing and responding to environmental changes that could lead to corrosion.
  • Decoration: These coatings can be used for decorative purposes, such as changing color in response to changes in temperature or light
  • Functionally graded materials: They can be used to create functionally graded materials, which have different properties in different areas of the material
  • Smart windows: Such coatings can be used to create windows that can change their transparency in response to changes in light or temperature
  • Heat mirrors: Smart coatings can be used to create heat mirrors, which reflect heat while allowing light to pass through
  • Overlay coatings: Smart coatings can be used as overlay coatings to provide additional functionality to existing materials, such as self-healing properties
Market size of smart coatings

Image: Market size of smart coatings worldwide from 2019 to 2026

In 2021, the worldwide smart coatings market was valued at approximately $2.9 billion, marking a notable 21 percent surge from the preceding year’s valuation of around $2.4 billion. This vigorous growth trajectory is anticipated to persist, with projections indicating that the smart coatings sector will ascend to roughly $7.43 billion by 2026. This projection signifies an impressive surge of about 156 percent compared to the valuation estimated in 2021.

How Smart Coatings Respond To External Stimuli?

Smart coatings respond to external stimuli using various mechanisms and materials to sense and react to environmental changes. Here is an explanation of how smart coatings respond to external stimuli:

  1. Stimuli-responsive materials: Smart coatings can be designed and prepared by incorporating stimuli-responsive materials, such as light, pH, pressure, temperature, and more. These materials have unique elements that change when exposed to specific stimuli.
  2. Trigger from the external environment: In general, the response of smart coatings requires a trigger from the external environment. This trigger can be a change in temperature, humidity, light, chemical or biological stimuli, or mechanical stress. Once the trigger is detected, the smart coating initiates a response.
  3. Spontaneous response: Smart coatings are designed to respond spontaneously to changes in the microenvironment. This means they can react quickly and autonomously to the specific stimulus they are programmed to detect.
  4. Strategic design: Smart coatings can be strategically designed to respond to internal or external stimuli. This involves carefully selecting and incorporating specific materials and structures into the coating to achieve the desired response.

Different Types Of Triggers That Can Activate Smart Coatings

Various kinds of stimuli can activate smart coatings. Here are some examples:

  1. Temperature: Changes in temperature can trigger smart coatings. For example, a smart coating on a window could become more opaque as the temperature rises to block out excess sunlight.
  2. Humidity: Changes in humidity can also trigger smart coatings. For example, a smart coating on a metal surface could respond to changes in humidity to prevent corrosion.
  3. Light: Smart coatings can be designed to respond to changes in light. For example, a smart coating on a car could change color in response to changes in light, making it more visible at night.
  4. Chemical stimuli: They can be triggered by chemical stimuli. For example, a smart coating on a medical device could respond to changes in pH to release a drug.
  5. Biological stimuli: These coatings can also be triggered by biological stimuli. For example, a smart coating on a medical implant could respond to changes in the body to promote healing.
  6. Mechanical stress: Smart coatings can be triggered by mechanical stress. For example, a smart coating on a bridge could respond to changes in stress to prevent cracking.

Applications

Smart coatings have a wide range of potential applications due to their ability to sense and respond to changes in their environment. Here are some applications of smart coatings:

  1. Corrosion protection: They can protect metal surfaces from corrosion by sensing and responding to environmental changes that could lead to corrosion.
  2. Decoration: Smart coatings can be used for decorative purposes, such as changing color in response to changes in temperature or light.
  3. Functionally graded materials: These coatings can be used to create functionally graded materials, which have different properties in different areas of the material
  4. Smart windows: These can be used to create windows that can change their transparency in response to changes in light or temperature
  5. Heat mirrors: Smart coatings can create heat mirrors, which reflect heat while allowing light to pass through.
  6. Overlay coatings: These coatings can be used as overlay coatings to provide additional functionality to existing materials, such as self-healing properties
  7. Medical devices: Smart coatings can be used in medical devices to respond to changes in the body, such as changes in pH or temperature
  8. Aerospace: They can be used in aerospace applications to detect and respond to changes in temperature, pressure, and other environmental factors

Emerging Technologies And Innovations

Innovative Breakthroughs:

Self-Healing Coatings: 

Unveiling a new dimension, self-healing coatings can mend damage autonomously. These intelligent coatings integrate microcapsules containing healing agents within their structure. When subjected to damage, these capsules rupture, releasing agents that seamlessly repair the coating’s integrity.

Sensor-Infused Coatings: 

Sensor coatings, pioneers of responsive coatings, have the potential to detect environmental changes and respond instantaneously. Their versatile applications span domains such as aerospace and civil engineering, where they prove invaluable for structural health monitoring.

Hydrophobic Marvels: 

Super-hydrophobic variants stand out for their water-repelling prowess among the groundbreaking coatings. Engineered to avert water and other liquids, these coatings find their place in self-cleaning surfaces and safeguard against corrosion.

Microbe-Resistant Shields: 

Shaping hygiene landscapes, anti-microbial coatings are intelligent solutions capable of curbing the proliferation of microorganisms on surfaces. In healthcare settings, they play a pivotal role in stemming the transmission of infections.

Shape-Shifting Innovations: 

Unveiling the future of coatings, shape memory variants exhibit a remarkable ability to transform in response to external stimuli like temperature or light. Also, their application vistas are wide and transformative, from biomedical implants to aerospace structures.

Electrically Conductive Coatings:

Conductive coatings can transmit electricity, illuminating the path for next-gen applications. Their deployment spans electronics and energy storage, sparking innovation in these sectors.

Nanotechnology’s Impact: 

Harnessing the power of nanotechnology elevates smart coatings to new echelons. These coatings redefine performance standards with enhanced properties like durability and self-cleaning attributes.

Adaptive Coatings for Dynamic Surfaces: 

Introducing coatings that adapt to external triggers like temperature or humidity, the era of responsive coatings dawns. From smart windows that modulate transparency to adaptive camouflage, the possibilities are limitless.

Energy-Efficiency Champions: 

In pursuing greener solutions, innovative coatings emerge as partners in enhancing energy efficiency. Also, by regulating temperature, these coatings revolutionize sectors like building and automotive industries, diminishing reliance on heating and cooling systems.

Future Outlook And Potential Challenges

Future Outlook:

  • Anticipated to experience substantial expansion in the foreseeable future, the intelligent coatings sector is poised for remarkable growth. Escalating requisites across diverse automotive, aerospace, and healthcare sectors propel this surge.
  • The imminent future promises technological strides to foster the creation of novel, superior smart coatings. These advancements are poised to usher in coatings imbued with elevated attributes and functionalities.
  • The realm of smart coatings holds the potential to offer solutions to persisting predicaments, notably corrosion, microbial proliferation, and energy consumption. These coatings are positioned to provide effective resolutions to these longstanding challenges.

Potential Challenges:

  • Bridging the gap between theoretical concepts showcased in laboratories and their application in real-world wet coating systems is a pivotal hurdle.
  • Smart coatings are tasked with delivering a diverse array of performance attributes, a task that often presents formidable obstacles.
  • The considerable expense associated with smart coatings can impede their extensive integration and use.
  • The absence of standardized norms and regulatory frameworks in the smart coatings sector can result in product quality and performance discrepancies.
  • The dynamic landscape of the smart coatings industry introduces complexities in safeguarding intellectual property, given the perpetual emergence of fresh technologies and innovations.

Conclusion 

Smart coatings are crucial in addressing long-standing industry challenges like automotive, aerospace, and marine corrosion protection. They enhance durability and safety, increasing lifespan and reducing maintenance costs in various applications. Also, they offer self-healing properties, extending the lifespan of coatings and reducing the need for frequent repairs. Anti-microbial coatings are essential in healthcare settings to stop the spread of infections while maintaining a clean environment. Also, such coatings with temperature regulation capabilities can improve energy efficiency in buildings and vehicles. Conductive coatings are essential for electronics and energy storage applications. Moreover, these coatings offer advanced functionalities and improved performance, making them vital for industries seeking innovative solutions to enhance their products and processes.

Enhanced Health Outcomes with Gamification in Healthcare

Do you know feelings of joy and wholeness are reciprocal? Playing games triggers a state of naturalness in us, thus leading to relaxation and increased alertness. Gamification in healthcare differs from just playing games because it implies gaming aspects in non-gaming environments.

Many industries have implemented serious games/gamification for sales boosts, self-help tools, learning, product launches, team building, culture change, customer retention, and increased sustained motivation. Additionally, the healthcare industry is using positive innervation of neurons through a plethora of gamification applications. In this blog, we will explicate ‘why’, ‘how, ‘which’, and some more observations of gamification in Healthcare.

Why Use Gamification In Healthcare?

In administering healthcare in current times, the industry faces many core challenges. The public health challenges include mental health, substance abuse, infectious diseases, cancer, diabetes, Sexual and Reproductive Health and Rights (SRHRs), an isolated patient experience, and climate crisis top the list. Healthcare facilities need to empower patients with gamified self-help tools, helping them become excited and inspired to achieve their goal of getting healthy.

We all understand that healthcare is a serious job, yet it doesn’t always have to be this serious. 

Especially with changing times and better tools, it is time for healthcare to fully use gamifiers. Patients find it difficult to take meds on time, visit the physician, regulate their emotions, and find inspiring views on wholesome health. Perhaps new age gamified healthcare apps take away ‘caru’ (sorrow/anxiety) from Healthcare and lead to ‘hælan’ that is healing/cure/wellness.

How Healthcare Gamification is Lifting Spirits?

Health management, medicine management, preventive health tools, wellness programs, and community/social support can all be combined in mhealth apps. Gamification of mhealth apps changes the way patients interact with these mobile health apps. Also, immersive and interactive health apps make tedious logins, tasks, and activities more rewarding, goal-oriented, easy to assimilate, amusing, fun, and manageable. As health becomes doable, patients feel more joy and power their strengths over their nether instincts.

Gamification adopts gameplay elements in design, like obstacles, levels, points, badges, performance graphs, unlocks, boosters, and rewards. For example, patients can be rewarded for taking medicines on time over the course of a period, doing their daily meditation/exercise, and eating healthy. Innumerable health data points can be included in the mhealth app, corresponding with visual amplifiers, challenges, continual feedback, recognition, and reward mechanisms.

When patients internally see that they are the key players in their health journey, they start playing active roles, feel autonomy, experience competence with how their choices are impacting their health, and share relatedness with social support/sharing their health journey with other fellows. It seems gamification is a better way of delivering Healthcare after all!

Which Gamification Companies Are In Healthcare?

Global Gamification in Healthcare will reach an expected USD 15.9 billion by 2030 and grow at a 22.6% CAGR from 2023 to 2030. Permeative gamification is happening in healthcare through hospital health apps, fitness apps, and physician health apps. Gamification can be seen in various healthcare parts like fitness, wellness, mental health, neurological disorders, mindfulness, medication, patient engagement, physical therapy, chronic disease management, and more. Below, we are sharing some of the players in the health gamification space:

  • Habitica: With millions of habitican users, the app helps users to gamify their goals. Using the app, one can find it hard to establish healthy habits and fit even their work/school/customized tasks. Habitica gamers feel ‘all gamed’ as they earn rewards for their goals through avatars, in-game features like battle armor, magic skills, mysterious pets, and more. The app also uses social elements and lets users battle monsters with friends. There is a lot of gamification in this app, we can say.
Visualize progress: Gamification in Healthcare
  • CVS Healthcare: CVS Health is avid about connected care solutions, and having acquired Omnicare in 2015, they have built Aetna Health, CVS Pharmacy, and other apps. They are utilizing rewards, have the Transform diabetes care app, health tracker app, and Attain app that induces behavioral change with real rewards.
  • HumanForest: It is a UK-based E-Bike service that uses the gamified in-app loyalty program to deliver its core message of enjoying the benefits of staying ‘in touch’ with nature and bicycling. 
  • EndeavorRx: Akili Interactive has built a first-of-its-kind action video game experience for attention treatment for children with ADHD. The FDA approves it, and it has a CE mark certification in Europe.
Other Companies in Gamification in Healthcare
  • MySugr: Diabetes is a chronic condition that is usually difficult to manage. MySugr app is a diabetes management app that uses gamification elements to log users’ blood sugar levels, feedback, and rewards to make the process user-friendly.
  • Medisafe: The app uses tech innovation with Just-in-Time Interventions (JITI) to prompt patients about their daily health inputs and soft reminders to help them stay on track. It also offers software for medical devices (SaMD). Each patient’s journey is unique, and the app allows for digitalizing it for quick understanding.
  • SuperBetter: With over 100K downloads and an above-4.0 rating on Android, the app brings a challenge and gameful mindset to everyday life. It adds visual and fun appeal to mental fitness, health goals, and major epic wins. The app’s language is inspiring and fun, with elements like collecting power-ups, fighting bad guys, and taking on guests. 
SuperBetter app design
  • MedBridge Go: It is a U.S.-based health, fitness, and workout app that uses the’ access code’ of healthcare providers to log in. The app is used by healthcare organizations and individual PT/AT/OT/SLPs. Also, with the app, patients can set reminders, track their progress, and access all the 3D exercise videos, educational PDF guides, and clinical notes added by their therapist. Over 54M home programs have been relayed through the app, and there are 330K+ app subscribers as of now.
Gamification in Healthcare

How Does Gamification Really Work?

Gamifying Healthcare was first started in 1989 by HealthPoint. The program used a redeemable reward system for patients’ healthy behavior. Also, HealthQuest was developed by Microsoft around 1993 and used puzzles and quizzes. The program taught diabetic patients about their conditions. Not just this, gamification was used earlier in 1896 by S&H Green Stamps. Gamification grandfather Charles Coonradt (1973) wrote the book The Game of Work, which was much appreciated.

Neuroscience, motivation psychology, and loyalty blocks are game changers in gamification. Human cognition is more embodied, embedded, enactive, and extended.

How gamification works ?

Figure: Process of how gamification in healthcare works.

Effective gamification best uses the affective neuroscience of emotional valence. Hence, as multidimensional beings, humans can use serious games to become unserious and healthy.

More Health Education Programs & Gamification

A study by Brigham and Women’s Hospital (BWH) and Veterans Affairs Boston Healthcare System found that clinicians learned better with online games. Learning with gamification helped them to control their patients’ blood pressure in a shorter time versus non-gamers. Additionally, the company that created the space-education methodology, Qstream, uses various gamification education features. These include micro-learning, engagement proficiency, performance analytics, flipped learning, and data-sharing aspects of their product. Hence, this further reinforces the idea that gamification is useful to everyone in healthcare.

Most commonly, young surgeons and physicians have grown up playing games. Gaming has integrated learning benefits, which was again proved in another clinical trial. Video game learning was used at academic medical centers and surgical training programs. 

Quantifiable positive results were derived between video game play and surgeons’ laparoscopic surgical skill/suturing. Moreover, similar clinical trials have been conducted that have focused on improving healthcare skills through gaming/simulation-based education tools.

Dos and Don’ts of Gamification in Healthcare

Whatever your goal, there can be a gamified health app, whether it is free, premier, or built for the provider/physician. To build a worthy app, the game mechanics and dynamics must be outlined well, keeping the end health goal (s) in mind. An unworthy game health app will most likely end up with the following frustrations. The opposite of do’s will result in a ‘must-do’ for the gamification of one’s healthcare app.

Dos and Don'ts of Gamification in Healthcare

Conclusion

Gamification is intrigue-generating and here to stay for good. The healthcare gamification market can be seen as a fast-developing space and holds real intrinsic and extrinsic motivation benefits. Different people have different predilections for games and thus benefit from such gamification of health services. Wearable health technology by Fitbit and Nike Run Club app use gamification for health & fitness. FDA is also incorporating Digital Health Technologies in Decentralized Clinical Trials (DCT).

We found that a few gamification companies, like Bunchball by BiWorldwide, were acquired, with acquisitions being more common. Moreover, this only implies that there is great potential for healthcare gamification. Fewer mHealth apps make full use of gamification, storyline, UX, and excellent graphics in their apps than others. With thousands of gamified tools available, healthcare gained more magic points (MP) for becoming more autonomous and tractable.

Seawater Electrolysis: Sustainable Hydrogen Production

Seawater electrolysis presents an innovative approach to harnessing hydrogen energy using seawater as an electrolyte. In this process, an electrolyzer is deployed to split water molecules, oxygen, and hydrogen gases by applying an electric current. One of the vital benefits of seawater electrolysis is its independence from freshwater resources, which are becoming scarce. Hybrid seawater splitting, direct seawater electrolysis, and impurity removal techniques have shown promise in enhancing the efficiency and viability of this technology.

Moreover, remarkable progress has been made in developing high-efficiency electrocatalysts for seawater splitting, opening new possibilities for more efficient hydrogen production. Additionally, researchers have explored performance modeling to understand the impact of current density and seawater salinity on the electrolysis process.

Advantages of Seawater Electrolysis:

1. Abundance and Availability

Seawater is abundant and widely available, making it a cost-effective and easily accessible resource for electrolysis. This eliminates the need for freshwater sources, which are becoming increasingly scarce.

2. Integration with Renewable Energy:

Seawater electrolysis can be carried out with renewable energy sources, including offshore wind and solar power. This integration reduces transportation and distribution costs, making green hydrogen more affordable and environmentally friendly.

3. Scalability:

The vast amounts of seawater available allow for the scalability of seawater electrolysis to meet the increasing demand for hydrogen. Also, this can potentially reduce reliance on fossil fuels and mitigate the effects of climate change.

4. Lower Capital Costs:

Seawater electrolysis offers the potential for lower capital costs compared to desalinated water electrolysis. This is due to the natural elimination of waste brine, which is only slightly enriched with salts, reducing the need for additional treatment processes.

5. Reduction Of Waste:

Seawater electrolysis eliminates the need for desalination, an energy-intensive process with environmental impacts. By utilizing seawater directly, the process reduces waste and minimizes the overall ecological footprint.

6. High Reserves:

Seawater has abundant resources, making it a favorable choice for large-scale hydrogen production. This inherent advantage of seawater electrolysis contributes to its potential as a sustainable and long-term solution.

Seawater Electrolysis Cost Compared To Freshwater Electrolysis Cost

In the realm of research and literature, the cost comparison between seawater electrolysis and freshwater electrolysis has garnered significant attention. While some variations may exist depending on specific factors and technologies, a generous exploration reveals intriguing insights:

1. Potential For Lower Capital Costs: 

Seawater electrolysis promises lower capital costs than freshwater electrolysis. The natural elimination of waste brine, only slightly enriched with salts, alleviates the need for extensive additional treatment processes. Also, this inherent advantage could pave the way for more cost-effective implementation of seawater electrolysis systems.

2. Reduced Cost of Water Production: 

In the grand scheme of electrolysis, the cost of producing water with the requisite quality stands lower than the cost of electricity to operate the electrolyzer. Seawater’s bountiful and widely available nature allows for its direct utilization as an electrolyte, bypassing the necessity for elaborate water treatment processes. This streamlined approach contributes to cost reduction and overall efficiency.

3. Abundance and Wide Availability:

 One of the most compelling advantages of seawater electrolysis lies in seawater’s abundance and wide availability. This cost-effective resource renders the reliance on freshwater sources unnecessary, thereby mitigating potential costs related to extraction, treatment, and transportation. By harnessing the readily available seawater, electrolysis becomes more economically feasible and environmentally friendly.

Challenges of Seawater Electrolysis:

Here’re a few notable challenges discovered in seawater electrolysis:

1. Chlorine Crossover: 

A notable challenge in seawater electrolysis arises from salt and impurities, which can lead to undesirable side reactions and corrosion. Traditional electrolysis may produce toxic and corrosive chlorine ions, threatening catalysts and electrodes. To mitigate this, ongoing efforts focus on enhancing catalyst durability and extending the electrolyzer’s lifetime.

2. Corrosion Concerns: 

The diverse array of salts and impurities in seawater poses a risk of corrosion within the electrolyzer system. Chloride ions and other corrosive substances can erode electrodes and system components, potentially impacting the efficiency and longevity of the electrolysis process. Rigorous research endeavors strive to develop corrosion-resistant materials and innovative protective measures.

3. High Cell Voltages: 

Seawater electrolysis typically demands higher cell voltages than freshwater electrolysis due to the elevated conductivity of seawater. This disparity translates to increased energy consumption and associated costs. Innovations in cell design and enhanced power management techniques are in progress to address this challenge and optimize energy utilization.

4. Electricity Consumption: 

Due to its heightened conductivity and impurity content, seawater electrolysis can be more energy-intensive than freshwater electrolysis. This discrepancy results in elevated electricity consumption and financial implications. Pioneering advancements delve into energy-efficient strategies and resourceful filtration technologies to alleviate this concern.

5. Impurity Management:

 Seawater harbors impurities such as suspended solids and organic matter that can impede the electrolyzer’s performance and efficacy. To ensure optimal operation and prevent fouling or clogging, meticulous impurity management and advanced filtration systems must be implemented.

6. Catalyst Development: 

The quest for efficient, stable, and selective catalysts for seawater electrolysis poses a considerable challenge. Seawater’s unique composition, coupled with the presence of impurities, can influence catalyst performance and longevity. Tirelessly, researchers embark on ongoing endeavors to discover catalyst formulations that can unlock the true potential of seawater electrolysis.

Recent Advances In Seawater Electrolysis

Seawater electrolysis has made significant advances in recent times. Here are a few mentioned below:-

1.Electrocatalysts:

Various high-efficiency electrocatalysts have made significant progress in splitting seawater and shown potential. These include metal oxides and hydroxides, metal phosphides, metal nitrides, and metal borides.

2.Anode Design Strategies:

A review published in Wiley Online Library highlights recent developments and future perspectives in anode design strategies for seawater electrolysis. Strategies such as electronic modulation, oxygen vacancies creation, and amorphous materials are discussed.

3. Direct Seawater electrolysis:

A study was published on the direct electrolysis of real seawater without alkalization or acidification. The study achieved long-term stability exceeding 100 hours at 500 mA cm–2 and similar performance to a typical proton exchange membrane (PEM) electrolyzer operating in high-purity water. The study utilized Lewis acid-modified electrodes (Cr2O3–CoOx) in a flow-type natural seawater electrolyzer.

4. Discarding impurities:

Researchers are working to enhance electrolyzer efficiency and longevity in seawater electrolysis. Contaminants in seawater can cause side reactions and corrosion, shortening the device’s lifespan. Moreover, innovative solutions, like removing salts and impurities, are being explored to ensure sustainable hydrogen production. Furthermore, advancements in electrolysis promise a cleaner and more renewable energy future.

Explaining recent advances in electrolysis

Image: Explaining recent advances in electrolysis

Electrocatalysts For Seawater Electrolysis

Electrocatalysts, as key players in seawater electrolysis, assume a pivotal role by facilitating the vital splitting of water molecules into two gases, viz hydrogen and oxygen. Remarkable advancements in seawater electrolysis have been observed, with the spotlight on the following electrocatalysts:

1. Metal Oxides and Hydroxides: 

Extensively studied for the oxygen evolution reaction (OER) in seawater electrolysis, metal oxides, and hydroxides have showcased tremendous potential. Moreover, among these are nickel oxide (NiO), cobalt oxide (CoOx), and iron oxide (Fe2O3), demonstrating remarkable catalytic properties.

2. Metal Phosphides: 

Intriguingly, metal phosphides like nickel phosphide (Ni2P) and cobalt phosphide (Co2P) have emerged as promising electrocatalysts for the OER. Their outstanding catalytic activity and steadfast stability under harsh seawater conditions have piqued the curiosity of researchers.

3. Metal Nitrides:

 The investigation into metal nitrides as electrocatalysts for the hydrogen evolution reaction (HER) and OER in seawater electrolysis has been fruitful. Molybdenum nitride (MoN) and tungsten nitride (WN) have emerged as standouts, boasting excellent catalytic activity and unwavering stability.

4. Metal Borides: 

Metal borides such as nickel boride (Ni2B) and cobalt boride (Co2B) have captured attention by exhibiting exceptional performance in the HER for seawater electrolysis. Their high catalytic activity and resilience contribute to their promising role in the electrolysis process.

Performance Modeling Of Seawater Electrolysis

Generously exploring the realm of seawater electrolysis reveals captivating findings from recent research endeavors, shedding light on key aspects that enhance its efficiency and performance:

1. Performance Modeling: 

Dedicated researchers have meticulously studied performance modeling in seawater electrolysis, delving into the effects of current density and seawater salinity. Four theoretical models were developed through a publication, intricately grounded in physical and chemical principles. These models are indispensable tools for investigating the process’s efficiency and performance.

2. Anode Design Strategies:

 Innovative anode design strategies have been the subject of focused study in elevating seawater electrolysis performance and efficiency. A comprehensive review, documented in Wiley Online Library, embraces recent developments and exciting future perspectives in this domain. Strategies like electronic modulation, oxygen vacancy creation, and amorphous materials emerge as promising pathways for optimizing the anode design.

Promising Results For Cost-Effective And Sustainable Hydrogen Production

The latest discoveries paint a hopeful picture for seawater electrolysis as a viable, cost-effective, and sustainable method for hydrogen production. Let’s take a glimpse at the promising results that illuminate our journey toward a greener and more harmonious energy landscape:

1. Scaling Up For Cost Reductions: 

As we venture into scaling up green hydrogen plants to the impressive capacity of 20MW and beyond, a world of possibilities unfolds. Recent analyses reveal that such scaling efforts could lead to a remarkable reduction of approximately 30% in operation and maintenance costs. The threshold of three-to-four-megawatt size projects is projected to be the tipping point, rendering hydrogen plants significantly cheaper to install. This advancement paves the way for enhanced cost-effectiveness and accessibility of green hydrogen technologies.

2. Metal-Free Catalysts For Sustainability: 

Researchers at the esteemed University of Surrey have revealed the potential of metal-free catalysts. These catalysts hold the key to developing cost-effective and sustainable hydrogen production technologies. With this innovative approach, we could potentially reduce the reliance on metal catalysts, which are energy-intensive to mine and manufacture. Such a shift also aligns beautifully with our commitment to creating a more sustainable and eco-friendly future.

3. Lowering Electrolyzer Costs Through Innovation: 

The International Renewable Energy Agency (IRENA) presents a visionary report that outlines strategies to reduce electrolyzer costs through continuous innovation, performance improvements, and strategic upscaling. Additionally, with renewable power costs steadily declining and progressive advancements in electrolyzer technologies, the trajectory is set for “green” hydrogen to emerge as a cost-competitive solution by 2030. This exciting development holds promise for a future where clean hydrogen is pivotal in our global energy landscape.

4. Abundant Renewable Resources: 

The allure of green hydrogen production lies in the markets graced with abundant and low-cost renewable resources. Notably, regions like the Middle East, Africa, Russia, the US, and Australia stand poised to produce green hydrogen at the remarkable price range of €3 to €5 per kilogram today. This abundance of renewable resources ignites a beacon of hope for the widespread adoption of sustainable and accessible green hydrogen solutions.

Conclusion

In the realm of sustainable hydrogen production, seawater electrolysis emerges as a beacon of promise. Recent advancements in this field have showcased remarkable progress and boundless potential. The development of theoretical models has provided invaluable insights into the impact of current density and seawater salinity on the process’s performance. Moreover, with each stride forward, the vision of cost-effective and sustainable hydrogen production using seawater as an electrolyte shines brighter.  These collective advancements affirm the untapped potential of seawater electrolysis, fueling our journey toward a greener and more sustainable energy landscape. Also, as we chart a course toward a future empowered by clean and renewable hydrogen, the allure of seawater electrolysis beckons us toward a world where sustainable energy solutions become a tangible reality.

Simplifying Vertical Farming To Answer Global Food Crisis

The exponential growth in global population will push the agricultural food production demands by 70% by 2050. It will also result in rapid global urbanization, which is expected to exceed 1200000 km2 by 2050. Therefore, the planners will need to ensure optimum land utilization to meet the increased food demand against decreasing available arable land per capita. Though vertical farms have emerged as a potent solution, they still face multi-faceted challenges in terms of implementation and upscaling. It is a resource, cost, and energy-intensive concept that has proved its worth only on pilot, prototype, and small scales. As a sustainable alternative, it carries immense potential to meet the increasing demand for organic food. However, the relative complexities and substantial research and innovation efforts need closer acknowledgment. Let’s understand the problem first before discussing plausible solutions.

Graph Depicting The Tussle Between Global Population And Total Aerable Land From 1950-2050

Image 1: Graph Depicting The Tussle Between Global Population And Total Aerable Land From 1950-2050

What Kind Of Challenges Restrict Growth And Upscaling Of Vertical Farms?

The Cost-Benefit Conundrum

Vertical farming is a cost and energy-intensive process. It may optimize water, soil, and land usage, but the constant energy requirements and uber-high real estate prices raise the capital investment bar too high. These high costs raise the product process, which the end-user would accept only on the grounds of some special USPs or non-availability of the given product. To summarize, the present economics of vertical farming is more inclined towards high capital, operational, and post-operational costs that stand far ahead of the profits realized in the process. Even in the long term, it would take years to break even with the initial investment or annual costs, nullifying this concept’s appeal.

A CAPEX Comparison Between Basil Production In A Green House And An Indoor Urban Vertical Farm (IUVF)

Image 2: A CAPEX Comparison Between Basil Production In A Green House And An Indoor Urban Vertical Farm (IUVF)

High Energy Requirement

A NASA scientist, Bruce Bugbee, claims that vertical farms can overtake traditional farms only when they work in natural light. Power consumption is one of the biggest hurdles in the upscaling and growing controlled environment agriculture industry. An environmental writer, George Monbiot, calculated that the primary cost of supplementary light to increase grain worth one loaf of bread in a vertical farm is approx. $15. The cost breakdown doesn’t include just the lighting costs but the constantly running HVAC systems that maintain optimal growing temperature, moisture, and airflow in the farms.

According to the 2022 UN-Habitat report, cities consume 75% of global primary energy, which implies that unless renewable sources of light and energy come into play, the idea of growing food in a controlled environment might remain a distant dream. Another issue is that artificial lighting releases a lot of unwanted heat that interferes with the humidity and air conditioning of the plants, leading to higher prices.

Inefficient Photosynthesis

Vertical farms have LEDs (Light Emitting Diodes) as the primary light source. These diodes offer higher conversion efficiency than their predecessors. However, the photosynthetically active radiation (PAR) is only from 400nm -700nm, which implies that even the most efficient LEDs supporting plant cultivation convert only half of the supplied power to PAR. From that half, only a small fraction is used by the plant. Overall, artificial lighting decreases the photosynthesis efficiency of plants. The best achievable efficiency, to date, has been registered as 2.5%.

Graph Showing Electrical to Chemical Energy Conversion Efficiency of Plants Under Traditional Fluorescent and Modern LED Lights

Image 3: Graph Showing Electrical to Chemical Energy Conversion Efficiency of Plants Under Traditional Fluorescent and Modern LED Lights

Restricted Crop Variety

One of the biggest hurdles in the growth and development of vertical farms is restricted crop variability. To date, it has only been able to grow microgreens, herbs, low-carb leafy vegetables, and small fruits like strawberries. The infrastructure, culture mediums, and equipment used in the process cannot support tall or thick plants, making them incapable of producing staple edibles like rice, wheat, maize, etc. This reduces their contribution to global food security and sovereignty problems.

What Kind Of Solutions Can Help Resolve These Challenges?

Automation:

Automated Vertical Farms (AVF) can answer several major issues plaguing the growth and economics of vertical farming. The extensive sensor networks can monitor the growth of crops, optimize workflow, and reduce manual labor tasks. It can bring down several complexities, pinpoint problems, and even identify tasks that are difficult to automate. It includes basic maintenance activities and crop harvesting. Several companies offer, merge, and invest to integrate automation in the vertical farm. For instance, in 2021, AeroFarms partnered with Nokia Bells Labs to integrate automated crop monitoring systems with their vertical farm. Similarly, iFarm, a vertical farming technology provider, provides its proprietary StackGrow technology. It is an automated vertical farm system for predictable and energy-efficiency cultivation of leafy greens and herbs.

Various Levels of Automation For Vertical Farm by iDTechEx

Image 4 :Various Levels of Automation For Vertical Farm by iDTechEx

Crop Motion Technology:

A proprietary tech developed by CubicFarms, moves plants to lights rather than using lights to grow plants. In the process, the motion tech moves the grow trays throughout the farm module on an undulating path that falls under a single line of LED lights. The single-lane LEDs are enough to provide the required light to plants even at temperatures of -40 degrees Celsius. As a result of this technology, the CubicFarms’ VF uses 54-62 percent less energy than their conventional counterparts.

Vertical Farming: Crop Motion Technology

Image 5: Crop Motion Technology

Improving Photosynthetic Photon Flux Density:

Photosynthetic Photon Flux Density (PPFD) can always be modified to improve the photosynthetic capacity of plants in vertical farms. For instance, in an experiment in a plant factory, the PPFD was enhanced by subjecting the plants to white light during the vegetative growth stage. The intention was to study the effect of white light and light quality with 300 µmol m-2  s-1 PPFD on radiation-use efficiency (RUE) and plant growth in the vegetative growth stage. They increased the PPFD, which led to an increase in photosynthetic rate while lowering the RUE. It was concluded that PPFD at 300 µmol m-2  s-1 and light quality at R9B1 (red: blue = 9:1) could improve the photosynthetic efficiency of plants at the vegetative growth stage while keeping up the levels of RUE.

Vertical Farming: Visual Representation of Experiments Done To Improve Photosynthetic Efficiency Of Dwarf Tomato Plants

Image 6: Visual Representation of Experiments Done To Improve Photosynthetic Efficiency Of Dwarf Tomato Plants

Conclusion

Vertical farming has the potential to resolve the global food crisis in the coming years. However, substantial efforts are needed to improve its sustainability and cost-effectiveness. The controlled environment agriculture can only succeed when it is merged with some of the fundamentals of traditional agriculture. For instance, all activities are currently performed under artificial lighting, which is harmful and inefficient in many ways. Most of its challenges can be resolved if access to natural light is improved on farms for a better part of the day.  

Floating Solar Farms: Energy Production With Global Reservoirs

An ingenious application of solar panels installed on water bodies, including lakes and reservoirs, constitutes floating solar farms. By harnessing these aquatic spaces, they optimize land usage and cater to remote areas with electricity needs. Embodying the latest advancements in photovoltaic technology, these innovative installations gracefully float atop a diverse range of water bodies. These water bodies include drinking water reservoirs, quarry lakes, irrigation canals, remediation ponds, and tailing ponds.

The floating solar system incorporates a lightweight PV concentrator designed to float effortlessly on water bodies. Rafts securely anchor these systems, positioned atop the surfaces of irrigation canals, water reservoirs, quarry lakes, and tailing ponds. Notably, several countries, including France, India, the UK, Korea, Japan, and the US, have installations of such systems.

Data On Floating Solar Farms 

The market value of floating solar panels worldwide reached roughly 35.6 million U.S. dollars in 2022, up from 30.2 million U.S. dollars one year earlier. Countries like China, Indonesia, and India are projected to lead the global generation of floating solar (FVP) power by 2031.

What Are Floating Solar Farms?

Floating solar farms, also known as “floatovoltaics” or floating photovoltaics, represent an innovative approach to harnessing solar energy. These floating solar farms consist of solar panels mounted on buoyant structures that float on bodies of water, such as reservoirs, lakes, irrigation canals, and remediation ponds. Water surfaces offer sustainable and environmentally friendly electricity generation, blending marine and renewable energy technologies.

The solar panels are securely fixed on these floating structures, ensuring they remain afloat on the water’s surface. This technology can be applied in various water bodies, including drinking water reservoirs, hydropower plants, and wastewater treatment plants. One of the significant advantages of floating solar farms is their ability to optimize space usage. They offer a promising alternative in locations with limited land availability, as they do not require valuable land resources for installation.

Floating Solar Farms

Figure 1: Graphical Abstract of Floating Solar Farms

Advantages Compared To Land-Based Solar Farms

Floating solar farms offer numerous advantages compared to their traditional land-based counterparts. Let’s explore some of the key benefits of these innovative installations:

  • Improved Water Quality: Floating solar panels can help prevent the evaporation of water and minimize unwanted algae blooms by shading the water. This can lead to improved water quality.
  • No Erosion: Traditional solar farms can cause erosion because solar panels block the sunlight from reaching the ground below. Floating solar farms do not have this issue, as they are not located on land.
  • Don’t Require Land Space: Floating solar farms can be installed on any calm body of water, so they do not require valuable land space. This makes them a good option for locations with limited square footage.
  • Generates More Power: Floating solar panels can generate more power than their land-based counterparts due to the cooling effects of water. Being in proximity to water helps the solar panels stay cool and absorb more sunlight, which can lead to increased productivity.
  • Flexible Location: Floating solar farms can be installed in various locations, including reservoirs from wastewater treatment plants, drinking water reservoirs, or hydropower plants. This makes them a good option for areas near cities, where feeding power into the urban grid is easier than supplying it from remote solar farms in deserts.
Additionally Efficient

Floating solar panels can supposedly be more efficient than land-based ones due to the cooling effect of the water. Solar panels operate more efficiently when kept cool, and the presence of water helps to keep the panels cool, which improves their efficiency and electricity generation compared to land-based solar farms. A study conducted by scientists from the Copernicus Institute at Utrecht University in the Netherlands found that a floating system was 12.96% more productive than a ground-mounted array, generating 1,346 kWh annually per kilowatt installed, compared to 1,192 kWh for the land-based system.

Challenges And Solutions

Floating solar farms have several advantages, but they also face some challenges. Here are some of the challenges and solutions for floating solar farms:

Challenges:

  • Durability: Harsh weather conditions, such as strong winds and waves, expose floating solar panels to potential damage, affecting both the panels and the floating structure. The panels also need to be able to withstand corrosion from the water. 
  • Maintenance: Floating solar panels require regular cleaning to remove biofilms caused by microbial activity, which can reduce their efficiency. Regular inspections are necessary to ensure the panels are functioning correctly.
  • Cost: Floating solar farms can be more expensive to develop than land-based solar farms due to the additional costs of the floating structure and anchoring system. They also require specialized equipment and expertise for installation and maintenance.

Solutions:

  • Durability: Floating solar panels demonstrate exceptional resilience by incorporating robust materials, enabling them to endure challenging weather conditions and resist corrosion. Moreover, their flexible design allows them to adapt seamlessly to fluctuating water levels, further enhancing their adaptability and effectiveness.
  • Maintenance: Regular cleaning and inspection can help maintain the efficiency of the solar panels. Installers can also set up automated cleaning systems to reduce the need for manual cleaning.
  • Cost: Floating solar farms can be more cost-effective using existing infrastructure, such as hydroelectric dam reservoirs, and combining offshore wind farms and floating solar farms to use the same transmission line.
Floating Solar Farms: Nations to cross 500 MW FPV installations by 2031

Figure 2: Nations to cross 500 MW FPV installations by 2031

Industrial Benefits Of Floating Solar Plants

No land occupancy: Floating solar plants offer a distinct advantage as they require minimal land usage, with only limited areas needed for electric cabinets and grid connections. Their unique feature allows installation on various water bodies, including wastewater treatment ponds, hydroelectric dams, and drinking water reservoirs, without encroaching on valuable land space.

  1. Improved efficiency: Floating solar panels can achieve higher efficiencies than PV panels on land because water cools the panels, leading to better performance.
  2. Environmental advantages: Floating solar plants can help improve water quality by shading the water and reducing algae growth. They can also reduce evaporation by up to 70%, which can be beneficial in regions that experience periods of drought.
  3. Sun-tracking capability: Large floating platforms can easily rotate horizontally and vertically to enable sun-tracking, maximizing solar energy capture.
  4. Energy generation: One square acre of floating solar panels is capable of generating 500,000 kWh.

Floating Solar Projects In Germany, US

In the United States, the most substantial floating solar project in California is the Healdsburg Floating Solar Farm. As the power supplier Sonoma Clean Power reported, this impressive installation consists of 11,600 solar panels and can generate 4.8 megawatts of electricity. This output is sufficient to fulfill approximately 8 percent of Healdsburg’s electricity demands.

Across the Atlantic, Germany’s biggest floating solar plant is situated on an unused lake within a quarry in the town of Haltern am Sea. Experts estimate that this remarkable endeavor will curtail CO2 emissions by up to 1,100 tons annually. Interestingly, in light of recent geopolitical events, such as Russia’s invasion of Ukraine, Germany, and other European countries are intensifying their focus on renewable energy sources to decrease their dependence on Russian oil and gas.

The floating solar system incorporates a highly efficient PV concentrator known for its lightweight design. It allows it to float on various water bodies gracefully. Rafts securely anchor these systems, resting upon the surfaces of irrigation canals, water reservoirs, quarry lakes, and tailing ponds. Notably, such innovative systems are already operating in different parts of the world, including France, India, the UK, Korea, Japan, and the US.

India, Singapore Making Significant Strides In Solar Farming

In India, an ambitious 600-megawatt floating solar energy plant is being built at the Omkareshwar Dam, a renowned pilgrimage on the Narmada River in Madhya Pradesh. Moreover, plans are in place for an even more substantial 1 gigawatt floating solar power project at the Indira Sagar dam, also in Madhya Pradesh. The central Indian state is already generating 5,500 megawatts of energy from renewable sources. As reported by the Asian solar energy news site SolarQuarter, it aims to further augment this capacity to 20,000 megawatts by 2030.

Meanwhile, Singapore’s huge floating solar farm on a massive floating solar farm located on the Tengeh Reservoir. This impressive facility spans an area equivalent to 45 football fields and has a staggering 122,000 floating solar panels. Notably, it plays a crucial role in powering Singapore’s five water treatment plants and aligns with the country’s ambitious goal to quadruple solar energy production by 2025.

Future Scope Of Floating Power Plants

a) Growing innovations in Floating technology 

b) Increasing concerns about land-neutral energy generation and energy independence 

c) Great potential and increasing awareness for floating PV. 

d) Availability of water bodies and land issues are the leading accelerators for floating PV Solar Panels. 

e) Increased efficiency of Floating PV over Land PV installed 

f) Availability of trained manpower and Govt. Policies have boosted the confidence of investors. 

g) Stable floating PV platforms result in minimum operation & maintenance costs. 

h) The emergence of new markets and investments in India, China, Thailand, Malaysia, and other developing countries

Conclusion

Floating solar farms represent a groundbreaking solution to the world’s energy needs, offering numerous advantages over traditional land-based solar installations. Moreover, by harnessing water bodies for electricity generation, they optimize land usage and cater to remote areas with limited resources. Also, experts project a significant growth in the market value of floating solar panels in the coming years, making it a promising avenue for renewable energy investment. Despite challenges such as durability, maintenance, and initial costs, innovative solutions and increasing global interest in floating solar power drive its development.

Transparent Solar Panels: Best Research Breakthroughs

Transparent solar cells (TSC) or transparent solar panels or clear solar panels, translucent solar panels or see-through solar panels, or invisible solar panels have long been a subject of curiosity and research, yet marred by a series of challenges. The range of these obstacles goes from synthesis to application level. Additionally, several efforts have been made to move to the other side. Some were successful, while others were lost due to high optical losses, inefficiency, and ideal material selection. Finding a material that gives passage to visible wavelengths of absorbed light while absorbing photons from nonvisible parts of sunlight has proven tedious. Similarly, the fabrication process, TSC, protective substrate framework, and costs have been major roadblocks to this path.

In 2018, a review of the most pertinent transparent solar panel technologies concluded that the biggest riddles around transparent solar cell technologies will be resolved by 2023. Now, it might be time for us to reflect on the most important breakthroughs in this domain and see what more we need to do to make transparent solar panels a mainstream commodity. Interestingly, transparent solar cells have successfully achieved an impressive transparency level of approximately 80%. They are maintaining a commendable power conversion efficiency ranging from 12% to 15%.

Important Research Breakthroughs In Transparent Solar Panels

Front-Facing Silicon Photovoltaic Cells and Colloidal Silicon Quantum Dots-Based Transparent Solar Windows:

Prepared by a team of researchers from the University of Michigan, Tong University, and Zhejiang Energy Group R&D Institute Co. Ltd., the visibly transparent solar concentrators (LSCs) hold a strong edge over the widely used semitransparent thin films. The latter includes dye-sensitized and perovskite-based photovoltaic cells. They are capable of achieving high power conversion efficiency (PCE) but with compromised visible transmission. Their proposed solar window scheme amalgamated the concepts of visibly transparent LSCs and spatially segmented photovoltaic (PV) cells. They placed the Si PV strips along the perimeter of the window as a frame.

At the same time, the windowpane was constituted by a visibly transparent LSC (made up of a thin layer of liquid silicon quantum dot suspension) placed in between two thin glass slabs. The window frame acts as regular solar cells as the sunlight touches the window surface. Simultaneously, the colloidal SiQDs (Silicon Quantum Dots) absorb UV light selectively. They generate high quantum efficiency fluorescence that reaches the Si PV strips on the edges. Thus increasing the overall PCE without degrading the visibility and aesthetics of the windows. It is a simple framework that allows them to replace the conventional retrofit windows and meet the net-zero energy buildings criterion.

Scenic View Through A Windowpane With Colloidal Silicon Quantum Dots Suspension Sandwiches Between Two Thin Glass Slabs

Image 1: Scenic View Through A Windowpane With Colloidal Silicon Quantum Dots Suspension Sandwiches Between Two Thin Glass Slabs

Hydroxycinnamic Acid Derivatives For UV-Selective and Visibly Transparent Dye-Sensitized Solar Cells

Dye-sensitized solar cells (DSSCs) are among the top emerging photovoltaic techs due to their ability to use optically transparent conductive oxide substrates and wavelength-selective absorption of photosensitizers. Environmental concerns have led to an unexpected lack of investigation into the natural dyes used in the process. So, in this study, hydroxycinnamic acids (HCAs) were introduced to wavelength-selective technology to assess their potential as UV-absorbing photosensitizers. Chemically, HCAs belong to a subgroup of phenolic acids ubiquitously present across the plant kingdom.

HCAs like ferulic acid, caffeic acid, and p-coumaric acid exhibit strong UV absorption rates ranging from 220-400nm. These HCAs are abundant in daily-use products like tea, coffee, whole grains, and vegetables. The study closely looked into the colorimetric, electrochemical, and spectroscopic properties of HCA derivatives. It verified their use as photosensitizers for selective UV and colorless DSSCs. It also concluded that commercially available HCA derivatives could help to upscale the integration of wavelength-selective and visibly transparent solar cells in the near future.

Transparent Thin-Film Si Solar Cells For Indoor Light Harvesting

The Electronics and Telecommunications Research Institute (ETRI) from Korea investigated the application of transparent hydrogenated amorphous silicon (a-Si:H) solar cells from several angles, including indoor light harvesting. They employed high gal triple-layers in the a-Si: H solar cells. It aided in getting a high short-circuit current and high shunt resistance, open circuit voltage, and under indoor illumination. Also, they added multiple color-adjusting layers at negligible costs to improve conversion efficiency. Through these adjustments, they obtained 36% maximum efficiency at a transmittance of 20.44% with white LED lights. These cells promise flawless long-term performance and can sustain over 99% efficiency under consistent indoor light illumination for up to 200 hours. These transparent solar cells can be the key to accelerating the design of integrated photovoltaics. Also, they can infuse better energy harvesting from IoT applications.

Various Applications of Transparent Indoor Solar Cells

Image 2: Summary of Various Applications of Transparent Indoor Solar Cells

Companies Actively Involved In Fabrication and Evolution

Ubiquitous Energy: One of the leading global companies involved in developing transparent solar technology. Its solar cells offer seamless integration into glass surfaces and windows for electricity generation. It does not obstruct the passage of visible light.

SolarWindow Technologies Inc: A US-based company, transparent solar panels and cells have been a significant area of focus for this company since its inception. Their developed technology aims to convert glass surfaces and windows into power-generating assets.

Physee: A Netherlands-based company that offers many sustainable solutions for buildings. One of their major offerings, the PowerWindow, integrates transparent solar cells into windows for power generation.

Oxford Photovoltaics: A global leader in perovskite solar technology, it is among the top innovators in the solar cell technology domain. However, their major focus is on improving the power conversion efficiency of solar cells, but they are also working on incorporating transparent solar cells in building facades. They aim to make solar energy a more affordable and widely available power generation option.

OnyxSolar: It’s the global leader in transparent photovoltaic glass for building and power generation purposes. Its solar panels have multiple layers of heat-treated safety glasses that offer thermal and sound insulation. Thus, their glass can perfectly replace conventional glasses for various architectural applications.

Key Features of Transparent Solar Panels

Generating energy without sacrificing natural light: Transparent solar panels enable the passage of natural light while producing electricity, ensuring well-lit spaces in environments such as offices, universities, and residential areas.

Versatility and customization: These panels can be seamlessly integrated into various settings, including homes, businesses, greenhouses, and even smartphones. Tailoring them to fit diverse shapes and sizes offers a customized solution that meets the specific requirements of each structure.

Enhancing aesthetics: In contrast to conventional solar panels, transparent photovoltaic systems or panels seamlessly blend with building facades, windows, and glass surfaces. Thus preserving the aesthetic appeal of structures. Moreover, architects and designers gain greater flexibility to incorporate renewable energy features, resulting in visually striking and sustainable buildings.

Improved energy efficiency: Transparent solar cells efficiently convert sunlight into electricity, providing a renewable energy source that reduces dependence on traditional power grids. By integrating solar panels into windows, transparent photovoltaics harness the sun’s rays to generate electricity. Hence, it lessens the reliance on fossil fuels and lowers the building’s carbon footprint.

Promoting sustainability: Adopting transparent solar panels contributes to a cleaner and more sustainable environment by harnessing solar energy and diminishing dependence on conventional power grids.

Conclusion

Solar energy offers a safe alternative to the expanding renewable energy needs. However, its large-scale deployment can be successfully implemented only when the excessive space-gearing nature is addressed. The transparent or invisible solar cells can absorb ultraviolet or near-infrared sunlight. They can use large buildings, automobiles, and other glass-based surfaces as power generators. But clearly, there is a tussle between these cells’ transmittance, aesthetic, and efficiency levels. Also, there are self-cleaning solar panels in the market, that offer another variety.

Researchers and developers need to conduct further R&D to align the merits of this concept with conventional solar and non-renewable energy resources. Only then can we fully realize the idea of making solar energy the primary energy source.