Solar Photovoltaic Panels To Gain Momentum In Coming Years, Launch Of Novel Technologies Pave The Way
This is the age of automation and artificial intelligence. We crave smartphones with long-lasting battery power and computers with higher computing power. Not to mention, long-range electric cars are our prime attraction. In short, we want energy that does not depend on earth's limited resources. The demand for solar energy has increased over the last few years and for good reasons. However, its abundancies not the only aspect that made it the most sustainable form of energy source. It has overcome several challenges that prevented it from large-scale adoption.
According to Allied Market Research, the global solar photovoltaic (PV) panels market is expected to reach $307.20 billion by 2023, growing at a CAGR of 15.0% from 2017 to 2023. Rise in demand for PV panels in the residential sector and surge in government initiatives and programs have fueled the growth of the global market.
Several PV panel technologies are in pipeline or already on the market. For instance, Trina launched a new model with a 670 W solar panel. On the other hand, Maxeon Solar Technologies has unveiled a new line of frameless and conformable rooftop solar panels. Recently, Option One Solar offered PV panel installation with 25 years warranty in Apple Valley. Such market developments have opened new opportunities in the solar photovoltaic panels market.
Launch of novel solar photovoltaic panels opened new opportunities
Trina Solar, a Chinese PV manufacturer recently launched a novel Vertex solar module that offers a power output of 670 W. Moreover, the product features a conversion efficiency of 21.6% and received a large-scale solar power project. As per the company, the solar panel is based on 210mm wafers, high-density, and non-destructive cutting, and multi-busbar technology.
On the other hand, Maxeon Solar Technologies, a global leader in solar innovations, released new Maxeon Air technology platforms that allow the manufacturing of frameless, lightweight, thin, and conformable panels without compromising their efficiency and performance.
The company had invested a huge pile of money in R&D to develop this platform. The Air solar panels can be attached to the roof without any mounting systems or racking. Due to its adhesive and low-weight nature, the technology can be easily installed on roofs. As per the company, the cells within the solar panel have a solid metal foundation and stress-relieved cell interconnection. This protects the panel against corrosion and allows energy flow with cracked cells.
Option One Solar, one of the local market players of PV panels in California, recently offered a range of professional solar panel system installation solutions to businesses and homes in Apple Valley along with Southern California.
The company recently announced solar panel system installation services that are reliable and cost-effective solutions and can meet the Valley's renewable energy demands.
Future of solar photovoltaic panels industry
The demand for renewable energy will continue to increase in the coming years. Some already launched technologies show promising opportunities and would revolutionize the way we think of solar panels.
For instance, the concept of floating solar farms has to gain popularity. As silicon panel prices are dropping, the demand for PV panels will increase in the coming years and will be used as floating panels on dams, reservoirs, and other water bodies. Another solar panel technology, solar skin, has gained the spotlight in the U.S. The technology is similar to ad wraps displayed on bus windows. In addition, the demand for solar fabric has increased over the last few years.
There are several innovative solar PV panel technologies in the market and some are waiting for approval and will be rolled out in the coming years. The promising era of solar PV panels is just begun and here onward its future is surely brighter.