Solar Market Growth OF THE SUNSHINE FUTURE
The International Energy Agency (IEA) states the worldwide solar market has quickly expanded in recent years as a result of a range of elements, including descending costs, increasing environmental awareness and consumer-friendly government policies. As technology matures and cost reduces, we should expect continued expansion in this space.Solar Market Growth.
High demand for Solar market leading to growth
Decreasing Costs: Solar Market Growth
Due to technology advancements, prices of solar panels and installation has seen a drastic drop.
The comp etition and economies of scale have also lead to a decrease in prices.
Flourish — Policies and Incentives By Governments:
The world over, grid supportive solar policies of convenience are being enacted such as feed-in tariffs, tax credits and net metering.
Environmental Concerns: Solar Market Growth
As climate change is getting recognized and the need to shift towards clean energy has emerged, hence the solar power demand is on rise too.
Energy Security:
Solar may be a best bet to reduce reliance on fossil fuels and improve energy security.
Grid Parity:
For many areas, protected sunshine power has hit the strength grid as it has turn into aggressive on cash in with unique fossil gas electricity era.
New Trends in Solar Industry
Solar+Storage —Approaches that link solar panels and battery storage systems to create a more flexible, dispatchable source of electricity.
Floating Solar PV: Floating solar can help reducing the land use footpring and at same time energy installations will not clash with land-use, as they could be deployed in suitable water bodies.
Agrivoltaics: Combining solar and farming to double up on land use for food.
BIPV — Solar Cells that Are Integrated Into Building Materials for Appearance and Energy Efficiency
The Future of Solar Energy
In the next couple of years, only time will tell what another cup runneth over future has in store for solar.