If you have been thinking about using solar energy on your home or business property or if you are interested in investing in this technology, you may be wondering what the year has in store for it. This is a rapidly evolving industry that many people have shown an interest in over the last few years, and others have already become active participants in it. Regardless of your interest in solar energy as a consumer or as an investor, it is helpful to learn more about what some of the projected trends for 2017 will be in the world of solar energy.
The Presidential Administration May Affect the Cost of Solar Energy
One of the most significant driving factors in the solar energy industry in 2017 will be the new presidential administration. President Trump took office in January 2017, and he is not a proponent of protecting the environment. Furthermore, he has advocated for the coal industry and for other sources of non-renewable energy. There is a possibility that some of the rebates that the government has issued to consumers to make the cost of using solar energy more affordable will be cut back or entirely eliminated. His administration seems to be driving down the cost of fossil fuels, which may temporarily hurt the solar energy market.
The Residential Market Will Remain Cloudy
Despite the Trump administration’s stance on the environment, many people in the residential and commercial sectors will remain interested in protecting the environment and may become more interested in solar energy as a result. However, the residential market has been clouded in confusion on the benefits and costs of solar energy as well as perceived downsides. This confusion unfortunately is expected to continue throughout 2017 and beyond. However, consumers can educate themselves about the industry by reading reviews on SolarCity's products as a first step. This can provide them with more information about some of the latest technology available and the costs of various products.
Large Projects Will Continue to Lead the Charge
In recent years, the solar energy market has largely been driven by the utilities or public sector market. Large solar installation projects have been a boom for solar industry companies, and this trend is expected to continue. Residential projects have been increasing in number, but the interest in utilities projects has far exceeded the pace of residential project growth. With this in mind, the Trump administration is expected to have very little impact on the overall profitability of the market as a whole for years to come.
Solar Energy Is Increasingly Affordable
You may think that the Trump administration’s energy plan or policy will make solar energy less affordable for the average consumer overall, but this is actually not the case. Many states have taken great strides over the years to achieve grid parity. This means that the cost of using solar power in these states is equal to or less than the cost of using grid power. Many states have achieved this status recently, and more are projected to reach this level in the coming years. Consumers who are interested in using solar power on their homes or businesses should learn more about the grid parity status in their state.
Solar energy has been a hot topic for many years, and it will continue to gain increasingly widespread exposure in the next year. While the energy policy of the new president appears to have been a setback at first glance, the reality is that this is an established and popular industry that has enough drive and staying power to thrive throughout the current administration.