Solar energy is a growing industry with a growing global market. In fact, by 2023, the world will have installed solar PV capacity worth over one trillion watts. This represents massive opportunities and huge potential. Additionally, solar energy contributes to the Sustainable Development Goal 7 (SDG 7). If you want to know what’s new in the solar energy industry, sign up for our free solar energy newsletter.
China is one of the biggest producers of polysilicon, which is the main component in solar panels. In fact, the Chinese are responsible for almost three-quarters of the world’s polysilicon production. As a result, some solar industry groups believe that this situation poses a risk to the solar supply chain. Meanwhile, solar companies are looking for alternative production locations. This can lower their carbon footprint and avoid companies accused of forced labor practices in China.
Researchers are developing new materials for solar cells, which could potentially lead to more environmentally friendly and sustainable products. For instance, perovskites are catching up to silicon-based solar cells in efficiency, despite their lower cost. This could also lead to new applications like solar cell windows. Furthermore, the Energy Department is partnering with the “Iron Man” actor to recruit up to 1,000 new workers for the solar industry.
As the solar industry matures, solar panels are being placed in unusual places. A solar panel array on Disney World is a perfect example. Another trend we’re seeing is solar arrays on capped landfills. These projects are becoming increasingly popular in solar energy circles. If the new solar rules are implemented in the U.S., they could create a billion-dollar market.
While solar power is booming, many people are worried that the solar industry will eventually take over American farmland. But the industry is already growing at a fast pace, and is a significant economic benefit for farmers and the agricultural sector. In addition, solar panels are also helping the environment. In fact, both the solar and electric vehicle industries are expanding at record rates.
Solar Energy Scotland is an industry group whose goal is to develop at least 4GW of solar power in Scotland by 2030. This would generate at least 8,500 jobs, according to the industry group. However, the current installed capacity in Scotland is just 400MW, lagging behind other countries like Denmark. However, with the help of the government’s new incentive, it’s possible that solar energy in Scotland could double within five years.
Meanwhile, China is dominating the solar panel manufacturing industry. It produces over three-quarters of the world’s polysilicon. The International Energy Agency estimates that over eighty percent of the solar cells and solar panel assembly are made in China. The country also manufactures most of the solar wafers needed to make solar panels.
Meanwhile, India’s state energy minister has signed a MoU to help solar energy projects in Rajasthan. The two solar energy plants in the state will have a combined capacity of 200 MW, and will be ready by December next year. The state government has also agreed to purchase 7,000 MW of solar power from SECI, which currently sells it at 2.49 per watt versus market prices of between twelve and sixteen cents per unit. Despite these positive signs, air pollution is a major issue keeping India from achieving its solar energy goals.
