New Materials, Efficiency Upgrades Advancing Solar Technologies
The growth curve for solar power continues its upward trajectory, thanks to technologies such as perovskites, heterojunction solar cells, and energy storage systems designed to complement rooftop solar. New inverters and racking solutions are making solar installations more efficient, helping extract more energy from the sun’s rays.
There is no shortage of technological advancements in the solar power sector, contributing to renewed growth in the industry after the coronavirus pandemic paused several projects. More countries are turning to solar as they establish decarbonization targets, more companies are setting sustainability goals, and the push for home improvements—an offshoot of the pandemic—has supported residential rooftop solar.
Researchers have continued to develop more-efficient solar energy equipment, and the market is supporting innovation. A two-year extension of the 26% Investment Tax Credit (ITC) for solar power, passed by the U.S. Congress earlier this year, has provided more impetus for homeowners and businesses interested in adding solar.
And an important factor in the growth of solar power may not be a better solar panel or inverter, but rather deployment of energy storage to support solar development.…