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Solar Contractors’ Industry Trends & Outlook 2016 1© 2008-2016 EagleView Technologies
EagleView Technologies 2016 Solar eReport
INDUSTRY TRENDS & OUTLOOK 2016
SOLAR CONTRACTORS’
Solar Contractors’ Industry Trends & Outlook 2016 2© 2008-2016 EagleView Technologies
The solar industry is growing rapidly and continuously morphing as installers, manufacturers,
and government agencies attempt to keep up with the pace of change. According to GTM
Research, the recent five-year extension of the Investment Tax Credit (ITC) “will foster $40
billion in incremental investment in solar between 2016 and 2020.” In this environment,
leveraging technology can be the difference between success and failure.
Introduction
Impacts of Solar Investment Tax Credit Extension. Retrieved March 10, 2016, from http://www.seia.org/research-resources/impacts-solar-investment-tax-credit-extension
EagleView is the leading provider of high-resolution aerial imagery and exterior property
measurement reports. A fleet of 100 aircraft flying year-round and proprietary, patented
3D technologies allows for delivery of accurate, detailed remote measurements including
dimensions, orientation, tilt and obstructions. Delivered in a CAD file, it can be imported
into existing workflows for precise proposals and designs.
Who we are:
Solar Contractors’ Industry Trends & Outlook 2016 3© 2008-2016 EagleView Technologies
To fully understand the solar industry’s direction over the coming year, we have
surveyed more than 200 residential and commercial solar industry professionals. Many
contractors are aware of the solar industry’s rapid growth and want to shift their
business to take advantage of this activity.
How big is this shift to solar? According to GTM Research, the cumulative number of
homeowners in the U.S. with rooftop solar was projected to reach one million by the
first quarter of 2016.
With that figure in mind, we have analyzed our survey data to provide insight into
building a successful solar business.
U.S. Residential Solar Economic Outlook 2016-2020. (2016). GTM Research. Retrieved from https://www.greentechmedia.com/research/report/us-residential-solareconomic-outlook-2016-2020.
By Q1 2016 the cumulative
number of U.S. homeowners
with rooftop solar will eclipse
the 1 million mark.
1 MILLIONThis year over
homeowners will use solar
Solar Contractors’ Industry Trends & Outlook 2016 4© 2008-2016 EagleView Technologies
Chapter 1: Technology Investment: Residential Versus Commercial
Chapter 2: Technology Budget Allocations in 2016
Chapter 3: Technology Investments by Company Size
Chapter 4: Technology Investments by Region
Chapter 5: Commercial Versus Residential Investment by Geographic Region
Chapter 6: Regions Likely to Have the Most Solar Installs in 2016
Chapter 7: Regions Spending the Most Money for Site Surveys in 2016
Chapter 8: Time Spent on Site Surveys by Geographic Region
Chapter 9: Regions with the Most Site Redesigns in 2016
Chapter 10: The Costs and Challenges of Growth
Chapter 11: Technology Investment for Business Improvement
Chapter 12: In Summary
Contents
In this report, we will highlight the trends in the solar industry—including growth, geographic, investment, and technology—and the outlook for rest of 2016 and beyond.
Solar Contractors’ Industry Trends & Outlook 2016 5© 2008-2016 EagleView Technologies
CHAPTER 1
TECHNOLOGY INVESTMENT: RESIDENTIAL VERSUS
COMMERCIAL
EagleView Technologies 2016 Solar eReport
Solar Contractors’ Industry Trends & Outlook 2016 6© 2008-2016 EagleView Technologies
Contractors who plan to invest in technology in 2016
&
71%COMMERCIAL
OF
79%RESIDENTIAL
OF
Solar Contractors’ Industry Trends & Outlook 2016 7© 2008-2016 EagleView Technologies
Ulama, D. (March 2016). IBISWorld Industry Report 22111e Solar Power in the US. IBIS World Inc. Retrieved from www.ibisworld.com.
Due to the recently passed ITC, solar industry revenue will
increase at a projected average annual rate of 6.5% to $4.4
billion by 2021, according to the IBIS World Solar Industry
Report. Yet because of this rapid growth rate and the
opportunities it presents, investment in technology remains vital
for industries looking to stay competitive as well as improve
their business processes.
How many solar industry professionals are planning on investing
in technology in 2016? According to those surveyed, 79% of
residential solar professionals and 71% on the commercial side
stated that they plan to invest in technology in the coming year.
With an average of three-quarters of all solar professionals
making these changes, investment in technology is a
requirement, not an option.
Solar industry growth is predicted to grow 6.5% annually or
$4.4 BILLIONin the next 5 years
Solar Contractors’ Industry Trends & Outlook 2016 8© 2008-2016 EagleView Technologies
CHAPTER 2
TECHNOLOGY BUDGET ALLOCATIONS IN 2016
EagleView Technologies 2016 Solar eReport
Solar Contractors’ Industry Trends & Outlook 2016 9© 2008-2016 EagleView Technologies
Respondents to the survey were asked to project how
deeply they intended to invest in technology in the
coming year as a percentage of total revenue.
Residential
62% of all residential stated that they will be investing over 2% of total revenue in technology
23% of all residential stated that they will be investing over 5% of total revenue in technology
Commercial
55% of all commercial stated that they will be investing over 2% of total revenue in technology
19% of all commercial stated that they will be investing over 5% of total revenue in technology
Technology Budget Allocations in 2016
62%of all residential solar
contractors will be investing
over 2% of total revenue
in technology
Solar Contractors’ Industry Trends & Outlook 2016 10© 2008-2016 EagleView Technologies
With these insights, professionals not investing at least 2% of total revenue in technology may want to re-evaluate budgets to ensure that the proper capital allocations are planned in order to remain competitive.
Solar Contractors’ Industry Trends & Outlook 2016 11© 2008-2016 EagleView Technologies
CHAPTER 3
TECHNOLOGY INVESTMENTS BY
COMPANY SIZE
EagleView Technologies 2016 Solar eReport
Solar Contractors’ Industry Trends & Outlook 2016 12© 2008-2016 EagleView Technologies
In both residential and commercial markets, the majority of the companies planning to invest in technology in 2016 are relatively smaller-sized companies.
Why are small businesses spending significant portions of their budgets on technology? For one, the demand of communities served may drive such growth. Other companies are also taking advantage of the government’s cost-saving initiatives in solar installations as well as the reduced cost of photovoltaic (PV) panels.
Solar Contractors’ Industry Trends & Outlook 2016 13© 2008-2016 EagleView Technologies
Of the residential solar contractors surveyed, we discovered the following:
87% of residential companies that plan to invest in technology perform an
average of 50 installs or fewer per month.
63% of residential companies that plan to invest in technology perform
10 installs or fewer per month.
Of the commercial solar contractors surveyed, we discovered the following:
84% of commercial companies that plan to invest in technology perform
an average of 50 installs or fewer per month.
71% of commercial companies that plan to invest in technology perform
10 installs or fewer per month.
63%of residential companies
that plan to invest in technology perform 10
installs or fewer per month
Solar Contractors’ Industry Trends & Outlook 2016 14© 2008-2016 EagleView Technologies
CHAPTER 4
TECHNOLOGY INVESTMENTS
BY REGION
EagleView Technologies 2016 Solar eReport
Solar Contractors’ Industry Trends & Outlook 2016 15© 2008-2016 EagleView Technologies
50%of contractors investing in technology will be doing so in the Northeast and the Southwest
Solar Contractors’ Industry Trends & Outlook 2016 16© 2008-2016 EagleView Technologies
Survey respondents indicate that the Northeast and Southwest in particular will see the most investments in technology.
Of residential and commercial contractors taking our survey, 48% reported that they will invest in solar technology in the
Northeast, while 51% said they would concentrate on technology investments in the Southwest United States.
These responses are in line with the reports from GTM Research, which pointed to similar trends occurring in 2016.
Shayle Kann, Senior Vice President of GTM Research, explained that the U.S. solar market remains so concentrated that
just 10 states accounted for 87% of solar PV installations in 2015. “But growth has been widespread,” Kann said, “and
24 of 35 states that we track individually saw market growth in 2015.”
10states accounted
for 87% of
installed capacity
in 2015
U.S. solar market breaks record by installing 7.3 GW of PV in 2015. (n.d.). Retrieved March 10, 2016, from http://www.solarpowerworl-donline.com/2016/02/u-s-solar-market-breaks-record-by-installing-7-3-gw-of-pv-in-2015/?utm_source=hs_email
Solar Contractors’ Industry Trends & Outlook 2016 17© 2008-2016 EagleView Technologies
CHAPTER 5
COMMERCIAL VERSUS RESIDENTIAL INVESTMENT BY GEOGRAPHIC REGION
EagleView Technologies 2016 Solar eReport
Solar Contractors’ Industry Trends & Outlook 2016 18© 2008-2016 EagleView Technologies
Average U.S. Solar Industry Breakdown for 2016
&
47%COMMERCIAL
53%RESIDENTIAL
Solar Contractors’ Industry Trends & Outlook 2016 19© 2008-2016 EagleView Technologies
New and established solar businesses alike can benefit from
knowing which segments of the industry are growing and where,
geographically, they can plan their next strategic ventures.
Respondents to the survey were asked which segment within the
solar industry they intended to serve in 2016. Within the solar
industry, an estimated 53% of the market will serve residential
customers, and 47% will serve commercial clients.
Compared to these industry-wide averages, however, the
following areas varied the most from the rest of the United States
based on these figures.
Southwest – trending toward higher than U.S. residential industry averages with 58% of the region participating. This is 5% higher than the national average.
Upper Midwest – trending toward higher than U.S. commercial industry averages with 52% of the region participating. This again is a 5% higher than national average variance.
5%RESIDENTIAL solar contracting
business is
higher in theSOUTHWEST than the national average
5%COMMERCIAL solar contracting
business is
higher in theMIDWEST than the national average
Ulama, D. (March 2016). IBISWorld Industry Report 22111e Solar Power in the US. IBIS World Inc. Retrieved from www.ibisworld.com.
Solar Contractors’ Industry Trends & Outlook 2016 20© 2008-2016 EagleView Technologies
CHAPTER 6
REGIONS LIKELY TO HAVE THE MOST SOLAR
INSTALLS IN 2016
EagleView Technologies 2016 Solar eReport
Solar Contractors’ Industry Trends & Outlook 2016 21© 2008-2016 EagleView Technologies
It’s not surprising that the Southwest and Northeast
hold the top two positions respectively. When related to
the total number of solar installations between one and
500 per month in 2016, these findings align with other
industry reports.
Yet when the monthly jobs totaling 50 to 500 installations
are observed, the lead shifts, and the Southwest and
Southeast become the leaders in the market. Many of the
companies in the Southeast are likely larger companies
that perform more installations per month.
Regions likely to have the most solar installs in 2016
46%SOUTHEAST and SOUTHWEST total
of all U.S. regions with
50-500 installs per month
Solar Contractors’ Industry Trends & Outlook 2016 22© 2008-2016 EagleView Technologies
CHAPTER 7
REGIONS SPENDING THE MOST MONEY FOR SITE
SURVEYS IN 2016
EagleView Technologies 2016 Solar eReport
Solar Contractors’ Industry Trends & Outlook 2016 23© 2008-2016 EagleView Technologies
The cost of doing business is a critical component for solar industry professionals who
want to expand their services to new areas. Site surveys, in particular, can result in pro-
hibitive costs for solar installation businesses.
Survey respondents were asked to report the average cost of a site survey for a solar
proposal. Collectively, the top three responses were:
$50 – $100 per Survey – 29%
Over $500 per Survey – 27%
$100 – $200 per Survey – 24%
The results indicate that more than half (53%) of all site surveys in the U.S. cost solar
contractors between $50 and $200; however, over a quarter of the time, they can cost
more than $500.
53%of solar contractors in the U.S. pay between
per survey
$50 – $200
Solar Contractors’ Industry Trends & Outlook 2016 24© 2008-2016 EagleView Technologies
Which areas of the United States tend to be more cost efficient when it comes to site surveys? The Lower
Midwest holds a higher percentage (42%) of all site surveys that cost only $50 to $100 per instance. Their
neighbors to the north in the Upper Midwest, however, have the highest percentage of site surveys costing
over $500 at 31% of all contractors.
42%in the LOWER MIDWEST
pay less than$100 per survey
31%in the UPPER MIDWEST
pay over$500 per survey
Solar Contractors’ Industry Trends & Outlook 2016 25© 2008-2016 EagleView Technologies
CHAPTER 8
TIME SPENT ON SITE SURVEYS BY
GEOGRAPHIC REGION
EagleView Technologies 2016 Solar eReport
Solar Contractors’ Industry Trends & Outlook 2016 26© 2008-2016 EagleView Technologies
47%of surveys in theSouthwest arecompleted in
1 HOURor less
38%of surveys in the
Midwest are completed in over
2 HOURSor less
Solar Contractors’ Industry Trends & Outlook 2016 27© 2008-2016 EagleView Technologies
Conducting a site survey can be time consuming, but completing each one faster gives
businesses the opportunity to meet with more potential customers and potentially close
more jobs. Knowing that there are only so many hours in a day,
which areas of the country are using that time most efficiently?
The most efficient areas of the country (performing site
surveys in under one hour) are:
Southwest – 47% are completed in an hour or less
Northwest – 44% are completed in an hour or less
The areas of the country taking the most time (performing
site surveys in over two hours) are:
Upper Midwest – 38% are completed in over two hours
Lower Midwest – 38% are completed in over two hours
Solar Contractors’ Industry Trends & Outlook 2016 28© 2008-2016 EagleView Technologies
CHAPTER 9
REGIONS WITH THE MOST SITE
REDESIGNS IN 2016
EagleView Technologies 2016 Solar eReport
Solar Contractors’ Industry Trends & Outlook 2016 29© 2008-2016 EagleView Technologies
Site redesigns can have a negative impact on a solar business. Not only
are they inefficient, time-wise, but they can also mean the difference
between keeping and losing a potential job.
Do some regions of the country experience more or fewer site redesigns
than others? Our survey revealed a significant variance among regions.
Which regions of the country experience the lowest number
of site redesigns per job (one or less)?
Northeast — 68% of all respondents said they have one
site redesign or less.
Lower Midwest — 68% of all respondents said they have
one site redesign or less.
Which regions of the country experience the highest number
of site redesigns per job (three or more)?
Northwest — 15% of all respondents said they have three
site redesigns or more.
Upper Midwest — 15% of all respondents said they have
three site redesigns or more.
68%of the NORTHEAST experiences ONE site
design or less
15%of the NORTHWEST
experiences THREE site designs or less
Solar Contractors’ Industry Trends & Outlook 2016 30© 2008-2016 EagleView Technologies
CHAPTER 10
THE COSTS AND CHALLENGES OF
GROWTH
EagleView Technologies 2016 Solar eReport
Solar Contractors’ Industry Trends & Outlook 2016 31© 2008-2016 EagleView Technologies
Climate agreements in Paris and an extension of tax credits in Washington promise
that the growth that the solar industry has enjoyed this decade is likely to continue.
2016 is on track to be a milestone year for U.S. solar, with more than 10 GW added
on an annual basis for the first time ever and the number of homeowners with solar
installed eclipsing the one million mark.
Paris. Washington. Right in our backyards.
10 Solar Trends to Watch in 2016. Retrieved May15, 2016 from www.greentechmedia.com/articles/read/solar-trends-to-watch-in-2016
Solar Contractors’ Industry Trends & Outlook 2016 32© 2008-2016 EagleView Technologies
Since the implementation of the solar tax credit in 2006, the cost of installing a
solar energy system has dropped 73%.
The U.S. Energy Department has committed to investing $18 million in storage
solution development for the solar industry. This, combined with the rising
emphasis on community and shared solar solutions throughout the country
indicate a continued rise in residential solar power. The United States currently has
a total installed capacity of over 20 GW—enough to power more than 4.6 million
average American homes.
Residential Trends
Top Residential Solar Trends for 2016. Retrieved May 15, 2016 from www.homes.com/blog/2016/03/residential-solar-trends-2016/www.energy.gov/articles/energy-department-announces-18-million-develop-solar-energy-storage-solutions-boost-grid-0www.energy.gov/eere/sunshot/community-and-shared-solar2016: The Year of the Solar Spill. Retrieved May15, 2016 from www.currengroup.com/2015/12/solar-industry-will-triumph-2016/
73%
Since 2006, the cost of solar
installation has decreased by
Commercial TrendsCompanies such as Wal-Mart, Apple, Ikea, Facebook and Amazon are deriving
more of their power needs from solar. Other corporations have already committed
to using 100% renewable energy in the coming years, according to a report from
industry analyst Clean Edge:
Goldman Sachs and Ikea by 2020
Nike by 2025
Mars by 2040
Solar Contractors’ Industry Trends & Outlook 2016 33© 2008-2016 EagleView Technologies
Growth is EverywhereThe United States is expected to install 16GW (16,000MW) of new solar power this year,
leading all other developed nations.
GTM Research’s U.S. Solar Market Insight Report 2015 Year in Review.
Australia 1,000 1,100
France 879 1,055
Germany 1,370 1,200
Italy 300 360
Japan 11,800 10,200
UK 3,906 1,600
Annual Installed (MW)2015 2016E
Solar Contractors’ Industry Trends & Outlook 2016 34© 2008-2016 EagleView Technologies
The growth in solar energy production has occurred both on a residential and a large-scale
utilities basis, with a new solar energy project being installed every two minutes.
However, challenges, particularly in commercial and industrial rooftop projects, have kept the
market relatively flat in recent years.
2
A new solar energy project is installed every
We haven’t outgrown the challenges
Commercial Rooftop Success: A Little Ballast and A Lot of Business Sense. Retrieved May 25, 2016. www.solarindustrymag.com/online/issues/SI1501/FEAT_01_Commercial-Rooftop-Success-A-Little-Ballast-And-A-Lot-Of-Business-Sense.html
MINUTES
Solar Contractors’ Industry Trends & Outlook 2016 35© 2008-2016 EagleView Technologies
The site survey is a critical step in securing new business.
The cost to perform a site survey is fairly consistent across
the U.S. While there are slight variations, the average survey
costs between $50 and $200 for 62% of projects.
$50 to $100—32%
$100 to $200—30%
$200 to $300—15%
$300 to $400—4%
$400 to $500—4%
Over $500—15%
Average site survey costs
62%For of projects the average price of site survey is between $50 - $200
Solar Contractors’ Industry Trends & Outlook 2016 36© 2008-2016 EagleView Technologies
Most site surveys are completed in 30 to 60 minutes.
Under 30 minutes—16%
30 to 60 minutes—34%
1 to 2 hours—23%
2 to 3 hours—14%
Over 3 hours—14%
Site survey completion time
On average site surveys are
completed in 30-60MINUTES
Solar Contractors’ Industry Trends & Outlook 2016 37© 2008-2016 EagleView Technologies
Many of the biggest challenges associated with site surveys revolve around
getting proper measurements of a client’s roof. Such challenges, which can
increase the costs of each site survey, may be due to:
Limited roof access
Obstacles that prevent accurate measurement
Travel time to the site
The challenge of roof access and measurement
Partially because of the challenges to roof access and proper measurement,
redesigns to initial solar solutions are a reality in the industry. Across the
country, the typical system is redesigned once or twice after the initial
design—an average of 68% of the time.
Never—22%
One—42%
Two—26%
Three—5%
More than three—5%
Redesigning solutions is typical
68%of the time, a typical system is redesigned once or twice
Solar Contractors’ Industry Trends & Outlook 2016 38© 2008-2016 EagleView Technologies
The reasons that make a redesign necessary are varied, but requests from
the client and cost reductions are recurring themes. While the reasons are
diverse, the fact that redesigns are detrimental to productivity and profit
are undeniable. Companies that have to redesign their solar solutions less
frequently enjoy a competitive advantage over their competition.
Reasons for redesigns
Every change after the preliminary design of a project comes at a
cost. That price may be relatively modest, but in a field with so many
competitors—and more entering the market each day in response to
current and projected growth—minimizing these costs is critical.
For nearly half of contractors, the costs associated with these changes can
range from around $100 to $200 per project. For the other half surveyed,
however, changes can result in expenses totaling $500 or more.
$100 to $200—49%
$200 to $300—22%
$300 to $400—10%
$400 to $500—1%
Over $500—17%
The price of change
Redesign costs anywhere between
$100 to $500per project
Solar Contractors’ Industry Trends & Outlook 2016 39© 2008-2016 EagleView Technologies
The cost of redesigns and change is felt in more than just money. For most contractors, each
change typically causes a delay of two weeks or less. But with each site survey averaging
only a couple of hours, delays that extend into days and weeks can have a dramatic impact
on the bottom line. Changes cause a delay of up to two weeks in 81% of solar installations.
Less than 1 week—54%
1 to 2 weeks— 27%
2 to 3 weeks—13%
3 to 4 weeks—4%
Over 4 weeks—1%
Time is money
81%of solar redesigns
cause a delay of up to
2 WEEKSWhile each change order means a cost in both time and money, in some cases
it costs even more—when the sale is lost because of changes to the design.
Never lose a sale—39%
Less than 5% of the time—45%
5 to 10% of the time—11%
10 to 20% of the time—2%
Over 20% of the time—3%
Even a little is too much
Solar Contractors’ Industry Trends & Outlook 2016 40© 2008-2016 EagleView Technologies
CHAPTER 11
TECHNOLOGY INVESTMENT
FOR BUSINESS IMPROVEMENT
EagleView Technologies 2016 Solar eReport
Solar Contractors’ Industry Trends & Outlook 2016 41© 2008-2016 EagleView Technologies
The growth in the solar industry is certainly due to changes in other
areas of the energy landscape. But it is also undeniably because of
technology that continues to bring the cost of solar down.
In 1953, solar panels converted 4.3% of available energy to
electricity at a cost of $1785/watt.
In 2012, solar panels converted 15% of available energy to
electricity at a cost of $1.30/watt.
In 2015, solar panels converted 23.5% of available energy to
electricity at a cost of $.70/watt.
Technology is changing everything
Solar Panel Prices Down Due To Solar Panel Technological Advancements. Retrieved on May 16, 2016 from www.costofsolar.com/solar-panel-prices-down-due-to-solar-panel-technological-advancements/
62 YEARS , solar panels have converted19.2%
In
of available energy to electricity at a decreased cost
Solar Contractors’ Industry Trends & Outlook 2016 42© 2008-2016 EagleView Technologies
In both the residential and commercial markets, smaller companies are taking forecasts
of continued growth as an opportunity to invest in new technology as a means to grow.
Smaller companies, bigger competition
With forecasts of continued growth, every part of the solar industry is planning to invest.
79% of residential companies plan to invest
71% of commercial companies plan to invest
Investment across the board
In both the residential and commercial markets, smaller companies are taking forecasts of
continued growth as an opportunity to invest in new technology as a means to grow.
Residential
73% of residential solar companies that plan to invest do 50 or fewer installs a month
54% of residential companies do 10 or fewer installs a month
Commercial
59% of commercial solar companies that plan to invest do 50 or fewer installs a month
37% of commercial companies do 10 or fewer installs a month
Small businesses. Big plans.
Solar Contractors’ Industry Trends & Outlook 2016 43© 2008-2016 EagleView Technologies
& 53%COMMERCIAL
OF44%RESIDENTIAL
OF
contractors say detailed design & lead generation
Reasons for Investing in Technology in 2016
Solar Contractors’ Industry Trends & Outlook 2016 44© 2008-2016 EagleView Technologies
For most contractors, technology investments are focused on finding
and securing new business and designing individualized solutions.
Residential companies
23% are investing in lead generation technology
21% are investing in design technology
19% are investing in proposal technology
Commercial companies
24% are investing in lead generation technology
29% are investing in design technology
9% are investing in proposal technology
Technology to win and improve business
Solar Contractors’ Industry Trends & Outlook 2016 45© 2008-2016 EagleView Technologies
By examining trends and best practices in the industry, the formula
for solar success comes into focus:
Calculated business improvement
Industry Growth
Technology Investments
WastedTime
+ –
=
Business Improvement
General industry growth may be outside of an individual solar company’s control. Technology
investments, however, can address and mitigate wasted time due to roof access, measuring issues,
and solution redesigns and hold great promise for strengthening the industry as a whole.
Technology will continue to change everything
Solar Contractors’ Industry Trends & Outlook 2016 46© 2008-2016 EagleView Technologies
CHAPTER 12
IN SUMMARY
EagleView Technologies 2016 Solar eReport
Solar Contractors’ Industry Trends & Outlook 2016 47© 2008-2016 EagleView Technologies
Conditions like the renewal of tax credits for solar will enable the industry to continue its
upward climb.
According to Bloomberg New Energy Finance, solar could account for as much as 35%
of new power generation infrastructure throughout the next 25 years. The conclusion
to be drawn is this: solar will continue to rise for a number of years into the future.
No end in sight, but there is a conclusion
5 Energy Trends to Watch in 2016. Retrieved May15, 2016 from www.fortune.com/2015/12/30/5-trends-energy-2016/
According to REN21, the Renewable Energy Policy Network for the 21st Century:
Projections show continued cost decreases, many possible technology advances, and
full competitiveness with retail electricity prices without subsidies. This so-called “grid
parity” will occur in many jurisdictions soon—although according to some is already
taking place—and will be more common worldwide by 2020.
Concentrating solar thermal power (CSP) still has a large cost-reduction potential,
with future opportunities for bulk power supply, for dedicated applications such as
industrial heat supply and desalination, and for power grid balancing...
The future is bright
Solar Contractors’ Industry Trends & Outlook 2016 48© 2008-2016 EagleView Technologies
“I’d put my money on the sun and solar energy. What a source of power! I hope we don’t have to wait until oil and coal run out before we tackle that.”
-Thomas Edison (to Henry Ford and Harvey Firestone), 1931
Current Thinking. Retrieved July 3, 2016 from //www.nytimes.com/2007/06/03/magazine/03wwln-essay-t.html