5 solar energy trend for 2021

We live in an era of Automation and artificial intelligence (AI) which shows no signs of slowing down. From electric cars to high powered computers, technology has advanced at astonishing rates often replacing man-powered services along the way. 

Despite the savings in time, labor and economy technology brings with it, the dependency on electricity has not decreased. With our energy requirements increasing by the year, the need to find alternative energy sources that do not deplete the environment is of utmost importance.

The solar energy market has been a promising solution and its abundance makes it the best candidate to fulfill increasing energy demand. In the U.S alone there is enough installed solar energy capacity to power 15.7 American million homes and with an annual growth rate of 20.5% these figures are expected to duplicate within the next five years.

New trends in the solar industry are providing more accessible energy-efficient solutions to a greater range of businesses and with its increasing demand and popularity, the prices of solar panels have decreased significantly over the past few years. According to Allied Market Research, the global solar energy market is predicted to reach $223.3 billion by 2026.

The solar energy industry is part of a very dynamic market with many factors impacting its deployment across the globe, including government policies, fossil fuel costs advances in solar energy technology and public awareness. Future trends in the solar power industry will help propel the use of energy-efficient solutions for many homes and businesses and can offer insight to help businesses stay competitive in years to come.

The top 5 solar energy trends for 2021 

1. Greater availability. With advancements made in the ability to generate and deliver solar energy, along with its increasing popularity, renewable energy devices are becoming more feasible and accessible to the private sector each year. Depending on government initiatives defined by different countries and states, excess electricity generated by households can be sold back to the grid or tax reductions offered.

2. Blockchain. The use of blockchain technology is being implemented in the energy market to mitigate the risks of hacker attacks in the grid and help make the entire system more secure. 

Blockchain solutions are also providing a means to effectively trade energy between companies and individuals, allowing companies to buy and sell energy directly from others, eliminating the intermediary energy suppliers.

3. Artificial intelligence. One trend to look for in upcoming years is the use of machine learning, such as microgrid controllers, and AI. Artificial intelligence allows data to be recollected, permitting technology to adapt according to the needs of the business and thus changing the way we control renewable energy.

New software can make devices smarter and more efficient in the form of smart batteries, sun trackers and inverters amongst others.

4. Grid parity. The use of renewable energy sources was once costly to implement, however emergent technologies and the trend towards companies and individuals seeking out alternative forms of energy have changed this. 

Grid parity develops when the cost of alternative energy becomes lower or equal to the cost of electricity from the electrical grid. With renewable energies becoming cheaper, the price of green energy will not only match those provided by electricity providers but (if the demand continues to grow at the rate it is) will beat the prices of traditional energy sources.

5. Improved energy storage. Energy storage systems are expected to improve in future solar energy technologies. The need for energy to be stored in an effective way that can withstand weather conditions and keep the energy in a sustainable storage system is constantly undergoing improvements and energy efficient software is focusing on implementing effective energy storage systems to meet these needs.

Conclusion

As technological advancements continue to pave the future, the world’s energy demand has escalated. In order to meet these ever increasing demands and with the knowledge of the negative global impacts of energy sourced from limited resources, solar energy (among other renewable energy sources) is a promising, cost effective and freely available energy source for managing long term energy usage.