The biggest challenge to the solar industry is the cost of land and cost of transmission to the end user. This combined with the spike in additional demand due to the rapid increase in electrical vehicles will put a tremendous burden on solar solutions.
Soltec Power Holdings is continuously studying and investing in innovation to offer the best products to the market. In 2020 we introduced our new SF8 tracker, under the slogan "designed for greatness".
Roof Tech growth has been within the yearly target despite the pandemic. We continue to introduce newer products and also adding additional manufacturing capabilities. We hit record-breaking numbers in the third and fourth quarter of the year despite COVID-19 shut-downs.
Although there are many challenges in the solar industry today, I believe reducing soft costs - which include all aspects of permitting and regulation of the industry - is one of the most difficult challenges to overcome.
Instead of looking for problems with the pandemic upon us, we found opportunity-to react for the near term, manage differently and even more effectively. We used the downtime to shift thinking, re-direct resources and prepare for the pent-up, near-term demand on the other side.
Relative to market dynamics, we are seeing more markets reducing or eliminating incentives. Whether it's net metering or the ITC, the industry must account for changing financial models.
One of the most recent developments in the industry is the shift to LFP chemistry, a non-toxic, non-hazardous solution that allows for longer battery cycle life, increased reliability, and enhanced safety. We knew we had to create our own LFP option.
2021 was a tough year, but we've all been through challenges before, and we can collectively overcome them again. Editorial from Glenn Jakins, serial entrepreneur and CEO at Humless, a Utah energy storage company.
• 14% of clean energy workforce still jobless as industry nears slow season • August growth rate far below 2020 projections made before COVID-19
The U.S. solar market installed 3.5 GW of new solar photovoltaic capacity in Q2 2020, a drop of 6% from Q1 installations. At the same time, utility-scale solar remained resilient despite the Covid-19 pandemic, representing 71% of all new solar capacity brought online in Q2.
The 2019 photovoltaic energy sector saw unprecedented growth, so much it accounted for nearly 40% of new capacity across all electric power production markets that year. 2019 installations were up 15% from the previous year.
Software helped companies keep employees safe and operations running during the pandemic - now, digital operational technologies can also make utilities companies more resilient on a long-term basis.
The letter calls on members of Congress to pass legislation that would push out deadlines for the solar Investment Tax Credit (ITC) and create a direct pay option, both of which would help the economy recover from COVID-19.
SolarEdge Technologies shares with us its thoughts on how they are managing through the pandemic as well as insights into what the future holds with manufacturing and the solar supply chain.
Starting this year, in 2020, there is now a step-down of the solar ITC, which may have a large impact on solar project development and the solar industry overall as we move forward.
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