solar energy systems

The global solar energy systems market size was valued at USD 198.3 billion in 2023 and is expected to register a compound annual growth rate (CAGR) of 15.7% from 2024 to 2030. The growing demand for sustainable energy production sources to replace conventional sources of energy is expected to boost industry growth over the forecast period. The declining costs of solar energy systems have made solar energy more competitive in the energy generation industry. The prices of components are expected to further reduce in the coming years owing to high investments in solar energy technologies, which, in turn, is expected to make solar energy systems cheaper than currently operating coal or gas power plants. The demand for alternative power generation sources and reducing dependence on fossil fuels is expected to boost product demand.

The $300 billion solar industry

“Solar energy utility generation costs are now 2.4 cents per kilowatt hour (kWh) versus 3.6 cents per kWh for coal, the cheapest fossil fuel source,” stated T.J. Rodgers, CEO of Complete Solaria. “Thus, the move to zero‑emission solar energy is accelerating, along with distributed solar power generation, as homeowners can now generate their own power for 8-10 cents per kWh, below the price of utility power in most states.

Is the United States nearing solar self-sufficiency? Not precisely, but domestic manufacturing capabilities continue to grow at an unprecedented pace, according to a new report released today by the Solar Energy Industries Association (SEIA) and Wood Mackenzie. The United States added a record-breaking 9.3 GW of new solar module manufacturing capacity in Q3 2024 via five new or expanded factories in Alabama, Florida, Ohio, and Texas. At the end of Q2 2022, before the passage of domestic manufacturing and procurement tax credits, the country’s module manufacturing capacity was less than 7 gigawatts (GW) – capacity has nearly quintupled since then, now nearing 40 GW, per U.S. Solar Market Insight Q4 2024.

That means if they’re all operating at full capacity, American facilities can churn out nearly enough modules to meet domestic demand, which SEIA expects to exceed 40 GW again in 2024.

“Our current outlook for the next five years has the U.S. solar industry growing 2% per year on average, reaching a cumulative total of nearly 450 GW by the end of 2029,” said Michelle Davis, head of solar research at Wood Mackenzie and lead author of the report. “Demand for solar remains robust, and annual installation forecasts would be higher if not for limitations the industry faces, including those related to interconnection, labor availability, supply constraints, and policy.”

SEIA anticipates installation volumes of at least 43 GW for the remainder of the decade. By 2029, total U.S. solar will be enough to power more than 71 million homes, the association predicts. In the last two years alone, 1.4 million American households have used federal incentives to install solar and lower their energy costs.

North America Solar Photovoltaic (PV) Market Size

The North America Solar Photovoltaic (PV) Market is segmented by Application (Residential, Commercial, and Utility), Deployment (Ground Mounted and Rooftop Solar), Technology (Crystalline Solar and Thin Film), and Geography (United States, Canada, and Mexico). The report offers the market size and forecasts installed capacity (GW) for all the above segments.

North America Solar Photovoltaic Market Analysis

The North America Solar Photovoltaic (PV) Market is expected to grow at a CAGR of more than 20% over the forecast period.

Over the long term, factors such as increased environmental awareness and regulations and decreased cost per kilowatt of electricity generated from solar energy are expected to boost the market.On the other hand, the high cost of storage of solar energy is expected to restrain the market.Nevertheless, new models of solar cells made of a thin film technology that uses narrow coatings of cadmium telluride in solar cells, which have higher efficiency and lower cost, may prove to be an opportunity in the sector.The United States is expected to dominate the market in the forecast period due to its relatively large electricity consumption to its neighbors. The country is also expected to invest in research and development to aid in the market's growth.

North America Solar Photovoltaic Market Trends

Utility Segment to Dominate the Market

The utility market includes the creation of electricity for a much larger consumer base, unlike residential or non-residential. It is estimated to dominate the market and grow the fastest in the forecast period.The electricity produced from Photovoltaic cells in the utility segment has been increasing over the years as Photovoltaic cells with better efficiency have entered the market. The increase in competition in the business has also helped decrease the price of electricity produced and increase the diversity of the cells.The government of the United States of America aims to cut the cost of utility solar by 60%. Thus making utility-scale solar the least expensive option for new electricity generation everywhere in the country.In 2021, the renewable generation in North America was 714.1 TWh, a 13% increase from the previous year, where solar generation contributed a 25% share of the total generation. As utility-scale solar energy projects would increase in the future, the region's renewable generation will also proliferate.In October 2022. TC Energy Corporation plans to conduct pre-construction activities for the Saddlebrook Solar Project near Aldersyde, Alberta. To build its first Canadian utility solar power project, TC Energy will invest USD 146 million. This project can generate 81 megawatts, sufficient to power 20,000 homes for an entire year. The initial phase involves installing solar panels on TC Energy's property in a local industrial park.Therefore, with such developments, an increase in the efficiency of photovoltaic cells, and government targets to promote clean energy in the North American region, the utility-scale segment will dominate the market in the next few years.

Solar Farm Companies in the US

The solar business expands significantly as the United States increases its commitment to renewable energy. Solar farms, or large-scale photovoltaic (PV) power plants, play an essential role in this green transformation. In 2024, numerous companies will emerge as leaders in the solar farm sector, driving innovation, growing capacity, and contributing to a more sustainable future. The top solar farm companies in the United States this year.

Hybrid solutions incorporating solar with storage improve operational cost efficiency, reliability, and quality.

Synchronization or displacement of diesel generators saving on emission intensive diesel consumption.

Hybrid solar and storage systems as an alternative or supplement to grid-supply.
Peak demand management to optimise overall energy costs.
Power quality improvements to potentially minimize disruptions to operations.

United States to Dominate the Market

Private companies in the United States are expected to invest in Photovoltaic cells to increase their efficiency. New projects are being planned, and constructed solar plants in the country are expected to dominate the market in North America.The United States of America aims to install an average of 30 GW of solar capacity annually between now and 2025 and 60 GW annually from 2025-2030. This will lead to the rapid development of the solar Photovoltaic (PV) market in the future.In 2022, the Department of Energy (DOE) declared its plan to fund USD 8 million for six solar energy research projects across six states and the District of Columbia. This will support the co-location of agricultural production and solar energy generation on the same land and also aims to minimize hindrances to utility-and community-scale solar energy deployment.The United States increased its installed solar PV capacity from approximately 59,068 MW in 2019 to 93,713 MW in 2021. The installed capacity is expected to increase further in the forecast period owing to the spur of private investments and the completion of government targets in the sector.Hence, the United States is expected to dominate the market due to its massive demand for electricity and increase in installed capacity in the forecast period.

companies under agreement

CERENERGY®

CERENERGY® is a game-changing Solid State Sodium Chloride CERENERGY® Battery for Grid Storage.

Altech Batteries Ltd is commercialising a 120 MWh solid-state sodium chloride battery production facility to produce 1MWh batteries for the renewable energy and grid storage market.

The CERENERGY® Batteries are ultimately fire and explosion proof, operate in a large temperate range, have a long life of over fifteen years, can be charged and discharged up to three times per day, and do not use lithium, copper, cobalt, graphite or manganese. The battery technology uses common table salt, developed by the world-leading German government-owned research and development institute Fraunhofer.

- No graphite or copper in CERENERGY ® Costs of Production Big Advantage

- Salt is cheap–Nickel is the only costly ingredient

- No lithium cobalt graphite or copper

-Game-changing technology for grid storage

-5x energy, 6x power

company presentation

cerenergy battery presentation

NANOVATIONS PTY LTD

8 Tilley Ln, Frenchs Forest NSW 2086, Australia

Renovation glass coating technology is based on colloidal sol-gel materials, where specially formulated solutions self-assemble into a monolayer surface structure. The use of wet chemical technology makes it possible to use simple, low-tech application methods like spray and wipe, spray atomising or dip coating.

After the curing, which is the evaporation of the carrier liquid, the material bonds to the surface, and the coating is self-assembled into the formulated and ultra-thin coating layer. The final coating layer thickness is in the nanoscale and is entirely invisible. Functions can be added. Within the limitation of the overall thickness, it is also possible to add scratch resistance and dust-reducing properties.

This structure gives the glass a highly durable hydrophobic effect.

Water, cleaning agents or high-pressure equipment cannot remove the completely invisible treatment. The extremely thin coating is a result of the lowest consumption rate on the market. Coverage rates of 400 square meters per litre (14,000 square feet per gallon) are possible. NG 1010, for example, is the most cost-effective and fastest-to-apply glass coating solution available.

The external glass is coated with nanotechnology, an easy-to-clean, self-cleaning coating that repels dirt, salt, acid, etc., with a five-year warranty.

https://www.youtube.com/@Nanovations
https://www.youtube.com/watch?v=BCjbELUB2x0

This is from a company in New Zealand.
https://www.youtube.com/watch?v=lsIUIheJhV0

Similar to Hawaii the water there contains volcanic minerals , that easy stain glass.
https://www.youtube.com/watch?v=KjhJlZu_ET4&t=23s

Application principles and process on building glass:
https://www.youtube.com/watch?v=64rOePxNE30