Solar energy is the fastest growing renewable energy industry in the world today. Demand, improved technology, and tax credits are the main reasons for the solar energy boom; and many companies are taking notice.
Fitting your building with solar panels has many benefits, and some negatives. It is important to pay attention to new innovation and solar energy incentives that might benefit your company. Below we will discuss the 2021 trends in solar energy that your business should look out for.
Most Americans want solar energy
The majority of Americans say they want access to solar energy for their home or business. The problem is that only half of them want to pay for it. Until a few years ago, solar panels were too expensive to justify. Now, they are more affordable and competition in the marketplace is furthering a decline in costs.
Installing solar panels on the roof of your home or business can still be expensive if you do not choose the right company. It is also important to check with your insurance company to make sure installing solar panels will not void or violate your policy.
Price of solar shingles
The price of solar shingles has decreased consistently since 2011. They are still expensive, however. A solar shingle costs about $21 per square foot. This price will continue to fall as demand increases and competition among providers heats up. This is why tax incentives are so important to the current state of the solar energy industry.
California now mandates solar panels for new construction
Last year, the state of California passed a new law that mandated the installation of solar panels on new single family homes and on multi-family homes up to 3 stories high. This created instant demand for solar panels in the state and is a trend that will continue in other states in the future.
Tax credits and incentives are driving demand for solar energy
One way to encourage businesses and individuals to invest in solar energy is through local and federal tax credits. Federal solar tax credits have been beneficial to the industry because they have increased demand and incentivised businesses to invest in them. It is important that you stay up-to-date on the latest solar energy incentives that can benefit your business.
Solar batteries are improving
Solar storage inadequacies have held the solar energy industry back for many years until now. Improvements in solar batteries have made solar energy more viable for homeowners around the world and for businesses.
Solar energy only works when the sun is out. That is why you need a reserve to capture solar energy and make it usable at night and during inclement weather. As demand for solar energy continues to increase, so will the need for proper solar storage and solar energy batteries.
Solar road projects are the most interesting trend of 2021
Now that there are solar panels available that can withstand the wear and tear of an active roadway, solar road projects are launching all over the world. Imagine the amount of energy a solar road could produce as it stretches for miles and miles.
Idaho was the first state in the U.S. to fund a solar road project. It is important to monitor the success of the project to understand the viability of solar road projects in other states. Parking lots and pathways are already home to solar panels and produce solar energy in many places around the world.
Solar energy will continue to improve
It is important to follow 2021 solar energy trends to see if installing solar energy panels will benefit your business. The industry is far from perfect, but it is growing and exciting innovations are being introduced every day.
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