According to Jifan Gao, CEO of Trina Solar, majority of solar equipment manufacturers may disappear in the next couple of years because of the decreasing prices that erode profit margins. This could drive the weaker companies out of the solar industry.
Facebook signed a deal with Cogenra Solar to install a cogeneration system in its head office located at Menlo Park, California. According to Cogenra, it would place photovoltaic solar panels on top of Facebook’s renovated fitness center.
The barren Mojave Desert would become home to large solar power plants once the construction is completed. The electricity generated from the desert would be enough to power millions of homes.
While most solar power related companies are coping with lower margins these days, solar inverter manufacturers are not suffering at all. Unlike other companies in the solar industry, solar inverter makers have some insulation from competition despite the weak economy.
Photovoltaic solar energy is gaining support from homeowners across the globe because of its benefits. Using solar panels in one’s home will drastically cut the household’s monthly utility bill as well as decrease the family’s carbon footprint.
Developers in the United States installed 69 percent more solar power capacity in the second quarter of this year compared to the year before. Majority of the installations were made by commercial and government entities.
The solar power industry in the United States looks good on paper. State and federal subsidies decrease the costs of solar power system installations even though some of the states have discontinued their solar programs due to budget constraints.
The Department of Energy will be funding high efficiency, low cost solar energy projects through its new SunShot initiative funding.
Developers of the Blythe Solar Power Project in California switched from solar thermal technology to photovoltaic solar panels. This is one of the similar changes made by large-scale solar power plants.
Solar power is looking to be the smart choice when it comes to electric power sources. The cost of solar power is decreasing while every other energy resources are increasing.