Solar energy is an increasingly popular method to reduce the standard household dependency on coal and other non-renewable sources of power. Advancements in solar technology are estimated to not only increase the amount of power that can be produced through solar energy but make affording the technology more accessible to homeowners. These breakthroughs make it an exciting time to invest in the solar energy markets and reap the returns some investors have known about for years. Here are just a few of the most recent technology changes that are taking the industry by storm.
Wider Light Spectrum
The sun produces a broad range of light types, many of which are not visible to the naked eye. Solar panel manufacturers are now rethinking light absorption and are designing panels that can access nonvisible wavelengths and convert them into usable energy. This will allow a single board to be smaller in design while enabling it to absorb the greatest amount of light possible. This technology is still in testing phases but promises to redefine the idea of renewable energy.
As energy is converted, it is typically stored in batteries to be used later. While this is effective, the transfer of the power from the solar panel to battery storage can lead to as much as 25% waste in the form of heat loss. New advancements in cold energy storage reduce the level of waste to as low as 3% without affecting the longevity of the storage devices. This increased efficiency cuts down on solar waste and ensures a home always has the power it needs.
Reduced Installation Fees
One of the most common barriers preventing a homeowner from installing solar panels is the cost. The cost of the panels is minimal when compared to the fees associated with standard installation. These new technology advancements now make it more affordable, as there is less labor required to fit a home with an adequate number of solar panels.
Investors around the world are diversifying their portfolios by choosing to invest in the renewable energy market. The experts at Oil and Energy Investors can be found online here and provide in-depth information on the upcoming trends and how they can help create astounding returns. Check out their blog and learn more about future clean energy investments.