Solar technological advances

Technological advances are making solar energy even more popular the and the costs for solar materials continues to slide. The state of the global solar industry today is somewhat complicated. Manufacturers must now consider international tariffs and China's sudden decision to limit installations, which could result in a grossly oversupplied market by the end of 2018. That's likely to squeeze profit margins across the industry in the short term and elevate the importance of technological superiority. Investors might scoff at that idea. After all, better technology has long been touted as a key differentiator in the solar industry, but it has generally taken a back seat to finances. But that could change and sooner than many think. Leading solar cell and solar panel makers are rolling out improved products in 2018 and 2019 that will provide an edge in both efficiency and economics. 

Navigating the next industry downturn

Some of the largest technology gains will come from better materials that are more efficient at converting sunlight into electricity. Today, all solar panels rely on either crystalline silicon materials (70% of the market) or thin film materials such as cadmium telluride (28% of the market). Both materials have advantages and disadvantages, which dictates their use.
For example, no company is better at wringing out electrons from silicon solar cells than SunPower. The company's X-series panels, which are available now, can reach up to 21.5% efficiency, although future improvements will increase that to the mid-20% range. However, the product will only be used for niche applications only at first. 

Two-sided solar panels

Considering the simplicity of bifacial panels and the cost reductions they enable, there's no denying their importance for the future of the solar industry. Some estimates foresee power output increases of up to 25% and cost reductions per watt of 20%. Canadian Solar believes its market-first dual-sided panel could increase efficiency from a high of 18.3% to as much as 23.8% given the right conditions. That could make the company's less efficient panels more competitive with higher efficiency panels, such as those from SunPower, for certain utility-scale projects. This simple change could have broad implications for increasing the geographic competitiveness of solar energy and accelerating the death of fossil fuel power generation.

Solar power is here to stay, and the sooner you explore how much you can save, the sooner you can enjoy the benefits of residential solar power. Go to HahaSmart.com and try our price checker tool. It tells you how much solar power you need, and how much you can save.

Please visit our solar blog to find out more about the benefits of going solar.