The Future of Solar: Trends and Predictions to Watch in 2024

The future of solar in 2024 is looking bright (no pun intended) and we’re looking forward to the many innovations to hit the market. 

From increased AI adoption and enhanced governmental support, here are 5 new and noteworthy solar trends coming your way this year. 

Efficient storage solutions will be in high demand 

If the past few years are any indication, renewable energy sources will continue to surge in 2024. As more people use solar to power their homes, there will be a natural uptick in the demand for efficient and cost-effective storage solutions. As explained in Nexamp, these advancements are set to play a pivotal role in addressing the intermittent nature of solar power and ensuring a stable energy supply. 

Based on what we’re seeing in the industry, it’s looking like solid-state batteries will gain traction, especially because they offer longer lifespans than traditional lithium-ion batteries. Gravity-based storage systems are likely to be a hot ticket item as well. Similar to solid-state batteries, gravity-based storage systems provide long-term storage options which is helpful when dealing with intermittent energy sources. 

Enhanced government support will drive solar energy adoption

Taxes are rarely fun, but every so often the scales do tip in your favor. Based on the most up-to-date regulations, 2024 is shaping up to be a particularly beneficial year to go solar. Enhanced subsidies, tax incentives and all-around favorable conditions will motivate homeowners to invest in solar energy. 

In the United States, there are initiatives—both on the federal and state levels—designed to accelerate the adoption of renewable energy. California, for example, has a Self-Generation Incentive Program (SGIP) where homeowners can get rebates for installing energy storage systems.On a global scale, China is the leading country when it comes to renewable energy. According to BECIS, China is aiming to generate 33% of their electricity consumption from renewable sources by 2025.

AI integrations will make solar energy more affordable 

AI, or artificial intelligence, was quite the buzzword in 2023, but the truth is that these technologies have been around since the 1950s. That said, AI is an active player in our everyday lives like never before. While many people fear that AI will take away our jobs, the opposite is true; when done well, AI is meant to make our lives easier and more efficient. 

At Monalee, we’re already using AI integrations to make solar energy more affordable for homeowners across the country. By removing salespeople and system designers from our process, we’re able to secure the same solar panel systems to our customers at half the price compared to the top traditional solar companies in the U.S. We also developed a patented AI design tool that allows us to create a custom design for
homeowners in seconds. 

Solar will become more accessible for emerging markets

With affordability comes access, and 2024 is set to see increased solar adoption in emerging markets. Artificial intelligence plays a big role in this, as do country-specific tax incentives. In an effort to combat climate change, countries across the globe are investing in cost-effective renewable energy. The United States in particular, along with many European countries, are investing in technologies that will reduce the reliance on fossil fuel and imported energy. 

A big opportunity exists for countries in Africa, Asia, and Latin America. Even with a developing economy, countries in these parts of the world have tons of sunlight, as well as large areas of land that can be converted into solar farms. Since solar power is suited to off-grid solutions, it makes it possible to provide electricity for underserved communities in remote or rural areas. 

Innovations in solar panel design will increase efficiency

Both form and function will drive innovation in solar panel design. In many cases, the two go hand in hand. For example, many brands are now developing flexible solar panels that are made from thin materials and bendable enough to fit any surface, whether a car or clothing. Others are building solar panels in different colors, as well as translucent. In this way, architects and designers can add solar technology to new developments without it taking away from the style of the property. 

As for now, we’re already seeing a shift toward frameless and glass-glass solar panels. These panels have glass on both sides, which helps to extend the lifespan of the solar installation. Swapping the traditional aluminum frame for frameless and glass-glass panels reduces the chance of corrosion and, for those honed in on the aesthetics, it blends in better with building architecture.