Industry News & Updates
Solar energy has been the golden boy amongst the renewable, clean and new energy sources that are slowly starting to proliferate, and for the first time in history, mounting a serious challenge to conventional petroleum and coal based energy. Now, in 2016 we are starting to see new solar energy trends emerge. A lot is happening lately in the field of solar power generation. New technologies, new policies and new players are entering the market and making it more streamlined as well as competitive.
The Unite States, as usual, has been in the leadership position in this field. It has been at the vanguard of this change and some very positive developments have taken place recently. Moreover, the world is slowly recognizing its liability to reduce carbon footprint and global warming. In the climate change summits that have taken place in the past one or two years, the top three polluters- the U.S., China and India have all set ambitious goals to rein in the pollution levels and also made pledges in this regard. They have all agreed that solar energy among other renewable energy resources will play a major role in combating the future energy crisis and pollution. You would be happy to know that even countries in Latin America have been quickly replacing conventional power grids with solar power arrays and are seeing exceptional results. It is a really interesting period for solar energy expansion and if you have been an ardent proponent of solar energy from the early days, you should not miss the interesting developments that are taking place now.
In this article, an attempt has been made to compile some interesting trends and developments that the world has witnessed with regards to solar energy generation in the current financial year.
This year will see more companies vie eagerly for a piece of the solar cake. According to Triplepundit, the domestic US market has 43 solar panel brands, 40 financing companies and 24 inverter brands made bids in the recently concluded EnergySage solar auction. However, transparency is still lacking in this field as many companies try to push one package over another and don’t reveal all the relevant information to solar shoppers. However, with more options, the prices are going to be more competitive and the market will expand faster,
A lot of innovative and sound financial backing options are being developed and launched in the market leading to higher solar energy consumption. Now, buyers have options other than leasing and Power Purchase Agreements (PPA) to look forward to. Take a look at more ways to finance your solar system here.
In a report published by Greentech Media Research, the 1500-V component market in the utility sector is likely to grow at an astonishing speed, growing 15 times the current size globally. The US will continue to be the leader in the near term.
The growth in this region in solar energy and its related components will be dominated by Indian markets but smaller players like the Philippines, Bangladesh and Pakistan will also support the rapid growth. Photovoltaic systems manufacturing will remain government regulated and subsidy-backed but there is a tremendous growth opportunity for early movers. Latin America will continue to see more announcements in the sector and new projects but the execution of the planned products would continue to be slow. (Source: Greentech Media Research)
There is a sudden euphoria in the world of solar energy. Only time will tell whether the actual growth and development will match this optimism. However, it cannot be denied that the market is more dynamic than in the past and governments across the world are also showing more willingness to act.
If you are interested in adding solar to your home or business and want to be a part of the growing solar industry trend apply for a free, no-obligation energy evaluation today.
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