In the last five years, there have been several significant improvements in solar technology that have helped to make it more efficient, affordable, and accessible. Some of the key developments include:
- Increased efficiency: Solar panel efficiency has continued to improve in recent years, with some panels now able to convert over 25% of the energy they receive into electricity. This means that fewer panels are needed to generate the same amount of electricity, which can reduce costs and make solar energy more accessible.
- Lower costs: The cost of solar panels has dropped significantly in the last five years. This is due in part to advances in manufacturing technology and economies of scale, which have helped to make solar energy more affordable for both residential and commercial customers.
- Innovations in storage: Battery storage technology has improved a lot, making it possible to store solar energy for later use. This is particularly important for residential customers, as it allows them to use solar energy even when the sun is not shining.
- Community solar: Community solar program have been developed and implemented in many places, allowing individuals and households to participate in solar energy generation without installing panels on their own property.
- Bifacial solar panel: Bifacial solar panels have been developed which are able to capture energy from both sides of the panel, increasing overall energy generation.
- Floating solar: Floating solar farms have been developed in some countries, which consist of solar panels floating on bodies of water like lakes or reservoirs. It not only generate electricity but also help with water evaporation, water temperature control, etc.
These improvements have helped to make solar energy more accessible and cost-effective for a wider range of customers, and have helped to accelerate the growth of the solar industry. With continued advances in technology and further cost reductions expected in the coming years, it’s likely that solar energy will play an increasingly important role in meeting our energy needs.
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