As the detrimental effects of global warming become common knowledge, there is a greater demand for clean and renewable energy, especially solar power. While solar panels in Singapore have been around for a while, it has been receiving more widespread coverage due to more households wanting to live more sustainably. If this is something you’re considering to commit to, it’s important to first understand how the market is doing. In this article, we’ll be taking a look at some of these trends and how they could impact solar panel users.
Expansion of Roof Solar Panels
There has been a steady increase in demand for solar panel roofs in homes and businesses in recent years as they look to reduce energy costs and carbon footprints, and it’s no secret that rooftop solar panels are a great source of cost-effective, clean energy. On top of that, they also help reduce one’s reliance on the grid. To encourage more businesses to adopt solar energy, the Singapore government has rolled out several tax incentives to help offset the cost of solar panel installation and further reduce energy expenditure, such as the SolarNova programme and the Building Retrofit Energy Efficiency Financing (BREEF) scheme. Expect this trend to continue in the years to come, so contact your local solar panel specialist and help do your part for the environment whilst saving money.
Decrease in Solar Panel Costs
When solar panels were first introduced, many home and business owners baulked at the high installation costs and wondered if it was actually worth the investment in the long run. However, as solar panel technologies progress — namely in wafer, cell and module manufacturing, lower electrical conversion losses, and improved cell efficiencies, solar panels in Singapore have become significantly cheaper to purchase and install — for comparison, solar panels today are about 94% cheaper than they were back in 1989. This is still an ongoing trend, as solar technology looks set to continue developing at a steady pace, and investing in solar panels today is no longer a daunting financial challenge.
Increased Usage of Smart Grid Technology
Alongside solar technologies, smart grid technology enables intelligent management of energy supply and demand within the grid, and is expected to be more widely utilised in 2023. Smart grids help improve energy efficiency, reduce energy waste, and allow easier integration of renewable energy sources into the grid, such as solar panels in Singapore. This can also translate into better savings on energy costs overall.
Advancement of Energy Storage Solutions
Energy storage solutions, such as batteries, are an essential part of optimising renewable energy capabilities, and with these solutions becoming more widespread in 2023, expect an improvement in energy security and a reduced dependence on the grid whilst enabling more effective usage of renewable energy sources; in this case, solar panel roofs.
Many of the solar power trends in 2023 are predicated around advancement in relevant technologies to make solar panels more affordable and efficient in doing their job. 2023 is therefore a great year to consider taking that step to rely on renewable energy instead. Consult a solar panel specialist to find out how you can get started.
Here at Perry Management Clean Energy, we offer affordable and high-quality solar panels to help homes and businesses go green and accrue long-term savings. For more information, please visit our website.