Many of us are looking toward more predictable growth from 2019 after the solar industry chaos of 2018. The tax credit will go to zero for residential and 10% for the commercial on December 31, 2021, as predicted by the experts in this sector. And after that, we will be on ‘solar coaster’. a rosy picture can be predicted for the US solar sector and stability can also be seen.
Following the previous year’s development in the solar industry, iSolarWorld predicts top five ‘in thing’ for the US solar industry that will happen in 2019.
- Solar Installations Will Increase:
Residential installations are at a standstill, but, solar as a whole is climbing. The TheUnited States has installed 4.7 gigawatts of solar power in 2018. Over 1 GW of utility-scale solar has hit for the past 11 consecutive quarters and utility-scale solar represents 55 percent of 2018 installed solar capacity.
- Renewable Energy Portfolio Standards to Take the Forefront
Undoubtedly, state renewable energy incentives are a little trickier. The state, where you are in and what solar policies they have been in place make a large difference. look into your state and utility incentives before purchasing solar. Federal and State tax incentives represent a large part of solar affordability. the federal solar tax credit covers 30 percent of solar installation costs as of 2018.
- Tariff to Further Magnify Missed Opportunities
Many utility-scale projects have been postponed due to the solar tariff on imported products and this has caused losses to the investors. Many overlook the fact that solar panel costs only account for a fraction of the total cost of going solar and operating a solar business. This provides that the company is financially healthy. When you are getting residential solar, this is an even smaller fraction of the total cost. The tariff is currently 30 percent though and is set to decrease by 5 percent each year over the next 4 years. Every year has its own new challenges and making your priorities clear will help you better prepared.
- China’s Poly-crystalline Overstock
China will decrease poly-crystalline further, though solar panel prices continue to fall. This is due to the Trump administration’s tax importation on foreign solar panels as well as China’s demand decrease. China’s surplus solar will most likely drop in price and this will in-turn force competition prices to drop in order to compete. The BNF or the Bloomberg New Energy Finance sees that solar will decline in 2019 by 10-15 percent.
- New technology to enter into the solar sector
Though there are many solar improvements in the queue for 2019, two major technologies are expected to enter into the market including solar grid and blockchain. Smart grids create a two-way dialogue between the utility and customer. This allows utilities to quickly pinpoint issues and track energy consumption and production. Blockchain technology increases smart grid reliability by cataloging and linking information through crypto-energy and makes it harder to alter recorded information as well.