The US currently relies heavily upon fossil fuels to get most of its energy. But as we all know, these sources pull from finite and rapidly decreasing resources that carry genuine environmental and climate impacts.

"Despite the growing adoption of renewable energy, solar technologies innovations are still required to assist deliver more clean energy into more homes and businesses as quickly as possible"

In fact, a recent report reveals 42 percent of worldwide coal capacity is currently unprofitable, and the U.S. could deliver $78 billion by closing coal-fired solar power, power plants, on the opposite hand, it is in consistent supply lately because the sun shines and that is the cleanest and most bountiful renewable energy source feasible.

Today, solar power is employed to get electricity, provide light, heat water for a spread of applications and far more. so as to satisfy energy needs and reduce carbon emissions, we'd like to still support innovations in solar technology.

Bringing the value down

Despite multiple reports showing that the value of solar power system installation is falling, solar power only accounts for two .3 percent of electricity generation within the U.S. And with feed-in tariffs departure and therefore the Solar Investment decrease (ITC) being reduced, innovations aimed toward bringing the value of solar power generation down will only become increasingly important.

Through technological improvements, innovations in design and better solar modules, we’ve seen the value of putting in a solar power system fall. And so as to continue solar power's rapid climb, we must take steps to support its continued acceleration.

Promising Innovations

Bifacial solar modules are one of the foremost promising innovations in solar energy immediately. They will produce power from each side of the panel, ultimately increasing total energy generation. 

However, the inherent (and not-yet-solved) challenge with bifacial is that the unpredictability of the facility output thanks to its dependence on reflectivity. Although it’s difficult to model what the solar module will produce, advances in bifacial technology are bringing the value structure down. Bifacial modules are truly the longer term of the industry.

Solar Plus Storage

While solar panels collect sunlight and transform it into electricity, they do not possess the power to store that energy for later use — which presents both a drag and an excellent opportunity for combining solar with energy storage. Over the past few years, the energy storage market has matured as regulators have started issuing guidance on the extent energy storage are going to be used because the grid diversifies and electricity demand increases.

Why storage? Beyond the potential for spectacular growth within the solar sector, energy storage can smooth electricity prices, mitigate the danger of curtailment, provide backup power and more. As solar power becomes cheaper and more widely used, the marketplace for energy storage grows, and therefore the challenge lies in making the batteries and other devices that store it affordable.

The U.S. must take greater advantage of solar power to get electricity, and fostering continued innovation is a method to drive the value of solar power down. 

Tim Jordan is vice chairman of Solar Construction with RES (Renewable Energy Systems), the world’s largest independent producer of renewable energy. He oversees all utility-scale solar construction projects for RES in North America.