Solar Electricity Trends We Can Expect to See in 2019
Solar electricity is a literal force of power taking over domestic and commercial electricity generation, across the world. Owing to a combination of factors including growing concerns over the effect of fossil fuel, global warming, and the scarcity of renewable sources of energy, solar power has become quite the superstar, especially, here in Australia.
In light of this, what developments and trends can we expect to see in the solar electricity industry this year? From falling prices to a growing interest in solar storage, continue reading our post for more insights!
Solar electricity is falling in price
As solar panel technology advances and becomes simpler to produce, the price of these devices is likely to fall, which in turn may lead to a reduction in the price of solar power by the megawatt-hour.
In terms of the former, leading module technology such as bi-facial modules seem to be growing in importance and use, given their ability to produce power from both sides of the cell. If installed on a highly reflective surface, it is believed that efficiency may increase by as much as 30%.
According to the International Renewable Energy Agency, the global weighted average cost of electricity of utility-scale solar PV is expected to drop by 40% throughout this year to around $60MWh. This is in addition to the 73% drop that already took place between 2010 and 2017.
The other factors driving this change include competitive procurement and the widening base of international project developers, which when considered together with technology advancement, represent the ‘three main cost reduction drivers’ for solar electricity.
Solar storage is becoming more widespread
Alongside solar panel technology, solar storage infrastructure also shows signs of booming in 2019.
With companies like Tesla leading solar storage in Australia, it’s only a matter of time before this trend becomes more scalable for smaller players in the industry. With the success of the Hornsdale Power Reserve in Australia, a massive battery responsible for storing generated solar power, the company has a far-reaching vision for solar power around the world.
Speaking about the project, the company added that “this grid-scale energy storage project is an example of a zero-emissions solution that is helping to reduce power outages and improving the reliability of South Australia’s electrical infrastructure”.
Digitalisation of energy
With the growth and proliferation of Blockchain technology, it’s no surprise that this network has spread its reach to the renewable energy sector as well. Accordingly, energy sharing might soon be possible through Blockchain networks!
Given that solar power is often generated in excess, users may be able to trade energy and distribute it through microgrids. While it might not be possible to transmit direct energy, solar energy credits could easily be exchanged through Blockchain’s peer-to-peer network.
As the year progresses, we won’t be entirely surprised to see companies and solutions catering to this very futuristic need, emerge.
More powerful solar technology
Another solar electricity trend we’re excited to see is the widespread use of improved and enhanced solar technology.
A prime example is the half-cut cell technology emerging in the industry. These cells, which are literally cut in half, are becoming popular in residential settings because of their ability to remain operational even in the presence of shade.
They’re also optimised for improved temperature coefficient, reducing the effect of heat on solar panel performance.
Heterojunction technology has produced another type of solar electricity cell that can improve efficiency ratings by 25%, due to an amorphous layer, which reduces the number of electrons lost on the surface. This technology also controls the effect of temperature, allowing solar panels to perform better in hot conditions.
Solar electricity is the future of power generation in Australia
As a leader in solar panel technology and solar electricity adoption, Australia is in a unique position to capitalise on the exciting trends unfolding in the renewable energy industry. In doing so, it will be interesting to see changes to how we consume power in the future.
If you wish to be a part of an unstoppable energy revolution, switch to solar energy today! At Earthsave Solar, we’ve got industry-leading technology that’ll instantly transform your power consumption and your monthly expenditure!