What is the latest in the world of renewable energy?
With the dynamic world of modern technology, solar energy gets its fair share of changes. Sometimes they are too rapid. As a result, consumers fall behind on the latest solar energy news.
What is solar energy? It is the power coming from the sun that you convert into electrical or thermal energy.
As two-thirds of the United States is keen on alternative energy, staying adept at the latest industry trends is essential. Check out our quick rundown of the latest trends and forecasts on solar energy.
Government to Focus More on Clean Energy
One of the most relevant solar energy news for 2021 is the government’s focus on clean energy. There will be more focused efforts on promoting and improving solar energy.
Moreover, the government will tighten its regulations on oil and gas over the next few years. Our leaders will also reduce incentives for the use of fossil fuels.
Demand for Solar Energy to Increase
Another trend to look out for is the growing demand for solar energy. Interestingly, the renewable energy growth rate around the world experienced a 45% increase in 2020. It holds despite the recent health crisis.
Solar and wind energy will both experience a boom. Furthermore, the International Energy Agency (IEA) noted large capacity gains will become prevalent at least until 2022.
Spain Becomes a Solar Energy Stalwart
Spain will also become one of the emerging leaders in solar energy. Solar farms in Europe experienced a 60% growth in 2020. It proves the acceptance of renewable energy is global.
However, Spain still lags behind Germany in solar capacity. Regardless, it will grow double the pace of the latter over the next two years.
More Efficient Solar Panels
There will be more efficient solar panels over the next few years. The average panel conversion efficiency rose from 15% to 20% in most modules in the United States. The increase may not look astronomical at first.
However, that 5% difference still increases the ROI of homeowners. It translates to a faster payback of the cost to 1.5 years instead of 2 years. Check out Blue Raven Solar to learn more about the benefits of going solar.
Demand for Battery Storage to Increase
Global battery energy storage will hit the $11.04 billion mark by 2025. It means demand for battery storage will also go up. More people will see the benefits of storing solar energy using batteries.
Batteries lower electric consumption and reduce wasteful production. In turn, more homes will install solar panels to store energy from the sun.
Solar to Boost the Economy
Last but not least, solar energy will become a driving force for the economy. Solar energy companies will hire more workers. All 50 states in the country collectively generate about $20 billion worth of solar-related investments.
Go Beyond Solar Energy News
By following the latest solar energy news, you can make more informed decisions while embracing renewable energy. However, following solar power news and trends is only the start.
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