There are lots of great developments in the solar panel installation Industry! The cost of installing a solar power electric generation system has dropped – a lot. Renewable Energy incentives have been extended by the federal government. Solar power storage and PV cell electric power generation are crossing new thresholds. And solar power is available anywhere in the continental United States. Read on to check specific great developments in the solar panel installation Industry.
Significant Cost Drop
In a residential solar PV (photovoltaic) system, the hard costs, or cost of equipment installed, based on price per watt dropped nearly 80% since 2010. In the last five years alone, Minnesota prices have fallen 45% according to SEIA.org. Since the average soft costs, or installation labor, has been rising slightly, the total costs have leveled off in 2020 from 2019. Waiting may not save you money. Instead, it could actually cost you money since you will continue paying public utility electric bills while you wait.
In Minnesota, a consultation with Renewable Solar Resources can disclose whether your home is eligible for conversion to solar power. Renewable Solar checks the PV rays your property receives, as well as the home size, the power it uses now amongst other facts when making a determination of how much money you can save by converting to solar power. That’s right, you begin to save money the moment your new solar powered electricity generating system is hooked up and running.
Solar Panel efficiency is a critical factor when you consider having a PV System installed. You may have seen articles about hitting 100% efficiency in 2020. It’s exciting news, but it is only in a laboratory at this time. Researchers John Geisz and Ryan France fabricated a solar cell nearly 50% efficient with super concentrated light (143 suns). That is not the exciting news. Under normal sunlight, their cells was 39.2% effective at solar electric generation. Since PV panels today average about 23% sunlight efficiency, 39% is pretty exciting. Don’t start jumping up and down over this. There is a long way to go from experimentation to a stable, marketable product. This will not be available anytime soon. What is exciting, is that the new achievement indicates it will be possible in the future to achieve much higher efficiency PV cells than can be produced today.
More battery capacity is storing today’s solar production that only a few years ago would have gone to waste. California is the superstar for introducing the world’s biggest battery in the summer of 2020. LS Power’s Gateway Energy Storage Project can charge or discharge 230 megawatts per hour, as of August 2020. By charging during solar production on off-peak hours, and storing that power, LS Power can improve its electric reliability.
How does a commercial power storage cell in California affect you? Homeowners don’t always choose to buy storage for their rooftop PV systems, choosing instead to go with net energy metering, getting credit during over productive days and buying electricity when that runs short. If you do choose a solar storage option, the safety and efficiency improvements achieved in commercial runs over into residential, improving product choices.
All of this is why it is a good idea to talk to a solar power installation professional. The team at Renewable Solar Resources reviews your needs. Then your Renewable Solar Resources professional analyzes ways to make your home more energy efficient. He or she will also measure the Photovoltaic options on your property. They review this information along with the cost of installation, and incentives that offset that cost. Visit Renewable-solar.com to contact Randy for your solar conversion consultation.