The advent of new solar technologies

Technological advances are making solar power even more viable and the costs for solar materials continues to slide. The state of the global solar industry today is somewhat complex. Solar manufacturers must now deal with international tariffs and China's decision to limit installations, which could result in an oversupplied market by the end of this year. That could lead to reduced profit margins across the industry in the short term and elevate the importance of technological superiority. More efficient technology has long been believed to be a key differentiator in the solar industry, but it has generally taken a back seat to financial considerations. But that could change sooner than many think. Leading solar cell and solar panel makers are introducing improved products that will provide an advantage in both efficiency and cost efficiency. 

The next solar trend

Some of the most significant technology improvements 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 have advantages and disadvantages. For example, no company is better at extracting 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 dwarf that number. However, the product will only be used for specialized applications only at first. The company's lower-cost P-series panels have a bigger market opportunity and boast 19% efficiency ratings -- above the upper end of the range for mass-market silicon panels, which sits at about 17%.

Two-sided solar panels will make solar more efficient

The simplicity of bifacial panels and the falling costs they enable, mean there's no denying their importance for the future of the solar industry. Some industry predictions show 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 some larger scale projects. This fundamental change could have wide-ranging implications for increasing the geographic competitiveness of solar power and accelerating the death of fossil fuel power generation.

Solar power is here to stay! Come and join the solar revolution today!

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.