Note: This is a Guest Post by GenieBelt
There has been a lot of technological advancements made in the solar energy sector. The industry keeps growing at a rapid pace. According to the guardian, the solar energy capacity has grown from 50 GW in 2010 to 305 GW now, on a global level. The reason behind can be due to the increased awareness about people. A collective effort is being made by many in the society to move to a much green way of living. From consumption to construction – the entire shift focuses on leaving as little impact on the environment was we can.
Solar energy is gaining a lot of popularity in recent years but it is still considered an uncertain industry. In such a situation, it is crucial to invest time and effort in knowing about the latest trends in solar energy, the many new technologies that have been developing and how the market and government is tackling the possibility of using alternative energy sources.
In order to help our fellow readers we decided to list down the 5 main solar energy trends that they can expect in construction. So here you go!
1. Faster installation and more efficiency
The installation of solar energy equipment has always been a rather complex process that required a lot of custom design. But we now have a solution to this in the form of solar arrays. Solar arrays are a quick installation solution.
They are predesigned and factory made solar energy pods that one can use permanently or as a temporary energy need. One such example of this is SunPods – a company that manufactures and delivers factory made, standardized solar energy arrays.
[Image Source: sunpods.com]
Modular construction is a trend that the solar industry is following. Modular building is one of the trend that is reshaping the construction industry and it has taken root in the solar energy sector as well. We now have modular solar arrays that can provide instant fix.
The upcoming solar trend in the construction is the use of these solar arrays to increase efficiency and at the same time provide a quick source of alternative energy.
2. Plunge in prices
As installation and efficiency in solar panels increases to does the cost behind it. According to Scientific American, the installation cost of solar energy decreased by 5 – 12% in the year 2015. And the trend of price reduction will continue in the future.
The reason behind the low prices, is the advancement of solar technology. The solutions are becoming faster to install and more efficient. The newer products will be more easy to fit and have the power to store more energy in. The future shows solar energy panels that have smaller sizes and cheap production costs which ultimately show a plunge in the prices. This will make solar energy a much viable source of energy in the future where there is a high level energy use.
As the contractors move towards a more green construction world, so does there options of using methods and energy that have a lower impact on the environment. The latest solar energy panels can benefit from that and there might be an increase need of them in the industry.
3. Industry Consolidation
As what happens when prices of new products fall, there is industry consolidation. That can be expected in the solar energy sector as well. That might be a difficult for solar companies and construction companies.
On the bright side, this will be beneficial for independent solar power manufacturers. As the big companies struggle to meet benchmarks, there is opportunity to gain market share. So all is not lost.
4. Regulatory Issues
According to the guardian, worldwide growth of solar panels increased by 50% due to the efforts of United States and China. The previous government in the US were pro solar and focused on supporting climate change policies. The same cannot be set by President Trump’s administration.
The new administration’s negative views about alternative energy sources may be a problem for the solar energy. This can create a very intense and uncertain environment in the solar sector and for construction companies that are going green.
Trump’s administration plans to cut funding of certain energy projects such as solar energy in the 2018 fiscal year’s budget. This might been some hurdles for the solar energy sector. It might also been a decrease in growth.
In short, businesses that depend have invested in alternative source of energy and on the climate change policy will be hit as US will not get the necessary funding to work along other countries in solar energy.
5. Survival of the solar industry
Even with all the negative trends, this is nothing for the solar energy. Solar energy will rise again and these hurdles are just a small blid in the radar that will mean nothing. The solar energy system will survive.
According to Greentech Media, there will be an average growth of 8% in 5 years time and by the year 2021, the solar industry will be a 105 GW market. It is claimed that the decrease in prices, advancements in technologies and new emerging markets such as India and various countries in Latin America will be responsible for this growth.
With this growth comes the higher usage of solar energy panels and other technologies in the construction. The green construction act will bring more solar energy in construction and thus another reason for the growth.
Conclusion – The future
The conclusion is that even with all the bumps (which the sector has been facing for a while now) there will be more growth. We will see better technologies that will make for a faster transition to green construction.
The construction industry is changing. It is encompassing various technologies that will make the industry transparent and efficient. The industry will start managing waste and resources on a much larger scale. And solar energy sector will play a huge part in making this happen! In short, the future of solar energy looks bright.
ABOUT THE AUTHOR:
Shaneel is a content marketing assistant at GenieBelt.