The Growth of Solar Power: What Comes Next

The growth of solar power is a worldwide phenomenon. Since solar is one of the cleanest forms of energy available to us, and we have an endless supply of it, it just makes sense that more people are adopting the technology. Unfortunately, for several decades, solar panels have been incredibly expensive, so innovation and adoption moved along at a glacial pace. Now that prices are dropping, we are starting to see some major leaps in innovation and integration. Here’s what’s coming next in the growth of solar power. 

Improved Efficiency

When we talk about solar power, we almost always end up talking about the cost of installing new solar panels. That’s because homeowners can quickly spend up to $30,000 installing a solar array and battery storage, which means that it could take 20-25 years to recoup their investment, even if they sell excess power back to the grid. Now that solar power is becoming more prevalent, and demand is rising, the cost of solar panels has certainly begun to drop, but there’s another change that is driving costs down: high efficiency panels. 

Traditional solar panels were only able to capture and covert about 12-15% of the light that they received during the day, meaning you needed a ton of panels to power your whole house. Today, we are seeing PV panels that are able to convert over 20% of the available light. While this number still seems relatively low, it makes a big difference when you are determining how many panels you need. The lower cost of solar panels, combined with the fact that you need fewer panels overall, has led to some huge cost savings. 

Better Aesthetics

Another complaint commonly heard from solar naysayers has to do with the bulky, ugly panels protruding from buildings. Many people actually believed that the appearance of solar panels in their neighborhoods drove property values down. This is starting to change with new innovations like solar roof tiles that blend seamlessly into the building, as well as clear and frameless solar panels that look just like windows and lay flat against the roof. Finally, a number of companies are working on customizable finishes to apply over panels to help them match your home’s exterior color scheme. These will all go a long way toward helping people see the benefits of solar power without feeling like they have to give up curb appeal. 

Better Power Storage Solutions

Aside from the solar panels themselves, the growth of solar power has also led to some interesting new power storage solutions. More people are installing battery banks to store power for use during power outages and overnight, allowing them to rely on their solar panels 100% of the time. In addition, these systems can stay connected to the grid so that your batteries can charge during the first half of the day, and you can continue to sell power back to the utility company once your batteries are full. This eliminates waste and maximizes your return on investment. 

To learn more about battery storage solutions for your solar power systems, contact MK Battery today. We are happy to help you find a battery that is designed for the unique demands of storing and supplying household power via the sun.