The energy-saving capability of a solar-powered building has increased the demand for clean, renewable energy.
According to Fortune Business Insights, the global PV market is experiencing a 25.9% growth rate, and is expected to increase from $199.26 billion in 2021 to $1,000.92 billion in a mere 7 years!
But however impressive these predictions are, we have a long way to go before we can achieve the global energy transformation objectives in the Paris agreement.
This article focuses on solar energy for the future, diving deeper into areas we must develop and problems that must be solved to further fuel the adoption of solar panels for homes.
The main development areas of the solar industry
2 million+ US households installed solar in 2019 alone, and installations have increased by 43% since. But to guarantee a future for solar power, there’s a need to develop certain areas in the solar industry.
The essential developments we need include:
Affordable and accessible solar energy for all
Currently, solar installation costs approximately $20,000 to $30,000, an amount that not many can afford. Creating affordable and accessible solar energy for low and moderate-income earners is the first step to having a better solar panel technology future.
For starters, there is a need to popularize community solar. Governments and financial institutions should also provide solar leasing opportunities and create more lucrative incentives.
The untapped solar potential of buildings
According to SEIA, The second quarter of 2022 saw the US install 4.6GW of solar on rooftops, which brought the total installed capacity to 130.9 GW. However, this is only a fraction of buildings that are potential solar targets.
Taking advantage of these untapped buildings safeguards future use of solar energy. It will help produce enough commercial solar systems to power millions of businesses and homes, supporting decarbonization goals.
The transport sector is another industry that could benefit from renewable energy and particularly solar. The Solar Impulse 2, for instance, was revolutionary and only a glimpse of the future of solar in transport.
The coming years will be a haven for solar-powered cars, if only we see an increase in cars operating on solar batteries and solar-powered bus stops. Solar companies should also produce lighter and more efficient 3D solar panels, and leverage TNO technology to integrate solar cells into vehicles, which brings us to the next point.
Improvement of solar cells and materials
Improving the efficiency of solar cells allows households and businesses to achieve optimal electrical output.
The solar industry should actively educate people on proper panel placement, solar cell cleaning, anti-reflecting coating, calculating the right solar placement angles, using energy management software, and other practices that improve the system’s efficiency.
Four problems we need to solve in order to develop solar technology
A couple of issues must be addressed if we are to experience a decarbonized world where we use solar on a global level. They include:
Getting the right laws and investments
Setting up favorable laws and investments is the first step to ensuring an increase in future solar systems. Joe Biden’s recently launched solar energy initiative is the perfect example.
The Bipartisan Infrastructure Law funding seeks to decarbonize the electricity sector by 2035 and power 5 million homes and reduce electricity consumption by 10% daily through a community solar initiative.
Such investments spur the adoption of solar energy and should be top of mind for Governments.
Improving storage and transmission
Storage and transmission issues are other solar energy problems that need addressing.
As beneficial as solar storage is, not many households can afford them. So, it’s vital to make storage more affordable to ensure self-reliance and reduce grid stress.
Additionally, there’s a need for more smart grids and advanced storage technologies to address transmission problems such as the overloading of transmission lines and frequency anomalies.
Find the best material for the panels
The lack of proper manufacturing materials is another problem with solar power.
Though inefficient, silicon was the go-to solar material until the advent of the modern Perovskites solar cells. The Perovskites solar cells raised the efficiency of traditional panels by 23%, proving better. However, they are not as durable as silicon panels and can be costly.
The solution to getting the perfect material is to merge these two to produce tandem cells. Tandem cells are available but need to be heavily commercialized to see an increase in production.
Literally, help solar energy stay afloat
Floating solar panels provide an efficient way to access solar energy. However, since the technology is relatively new, there is not enough tech know-how or equipment to fully optimize the opportunity.
Furthermore, the tech is not favorable for everyone and is, currently, ideal for large-scale applications – something that needs to change!
Deliberately developing the solar industry and solving the above-mentioned problems is an excellent strategy to make solar a key part of the energy sector and decarbonize the future in 10 years.
PPM Solar is at the frontline of these efforts, providing residential and commercial solar panels in Florida. We provide high-quality systems that effectively and efficiently power your home and business.
Talk to us today.