The Solar Revolution: What We've Achieved and What's Next?

Solar energy has become nearly 90% cheaper than it was in 2009, several years after I started my journey - or ride - on what many refer to as the 'solar coaster'. Personally, I've had the joy of witnessing and the honor to be a part of the industry transition from the laboratory to manufacturing and deployment at scale.?

The solar?#markets?have had ups and downs and growing pains but this remarkable, unqualified success story, and lessons that can be drawn from it, can help us not only continue the growth but create and deploy new?#technology?we need to expand access to affordable, clean?#energy.?

This is what motivates me in my daily work to advance?#innovation?and why I'm sharing some lessons with you that I hope you find useful. Vox made a powerful, short video you can watch to get the general history of the?#solar?industry and I'll share my takeaways below on what we know works in advancing the?#future.

Solar energy has come a long way since the first demonstration of photovoltaic technology in 1954. Today, it has become one of the fastest-growing sources of electricity, thanks to its abundance, affordability, and eco-friendliness.?

The solar industry's success can be attributed to various factors, including government incentives, technological advancements, and falling prices of solar panels. As the world transitions towards a more sustainable future, solar energy will play a critical role in achieving that goal, including as a model for further innovation.?

Here are some lessons that can be drawn from solar energy's success to advance the industry and others further:

Innovation is key: The solar industry has been able to achieve rapid growth through continuous innovation in technology and business models. As new technologies like energy storage and power plants on wheels emerge, it's essential to keep innovating to improve efficiency, reduce costs, and increase accessibility.

Collaboration is crucial: Governments, businesses, and communities must work together in public private partnerships to create policies and incentives that support the growth of solar energy. Collaboration between solar companies and utilities can also lead to the integration of solar power into the grid and increase its reach.

Technological synergy is essential: Multiple technologies, such as solar and energy storage (or electric vehicles as Power Plants on Wheels), can work together to create a more efficient and reliable energy system. Encouraging the integration of complementary technologies can advance the solar industry further and increase its accessibility.

Education and awareness are vital: Solar energy is still relatively new to many people, and there is a need for increased education and awareness about its benefits. Efforts should be made to educate the public on the importance of solar energy and how it can help mitigate climate change.

Support research and development: Investing in research and development is crucial to advancing the solar industry. Continued research can lead to breakthroughs in efficiency, cost reductions and access.

Policy drives adoption:?Establishing supportive policies, such as feed-in tariffs, net metering, tax incentives and rebates are examples proven to incentivize adoption and investment.

Increase access to financing: Access to financing is a significant barrier to the adoption of solar energy. Governments and financial institutions must provide more affordable financing options to make solar energy and other technologies like electrified transportation accessible to everyone.

Locally-made is superior: Supply constraints, ethical labor standards, environmental footprints and national security are best managed through local or regional manufacturing.

By implementing these lessons, the solar industry along with new technologies and emerging markets can continue to grow and play a vital role in the transition towards a more sustainable future.

Like this topic?

Tune in next week?for a Linkedin Audio Live Event where I'll be discussing with?Shibashis (Shiba) Bhowmik, Power Plants on Wheels: The Solar Industry's Game-Changer.

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