The renewable energy industries – the solar energy market in particular – have been rapidly evolving over the years. Although this industry has always been slightly unpredictable, 2017 is unbelievably tough to predict due to the political disasters that occurred in the previous year. Due to the political uncertainty of 2017, we cannot clearly say what awaits solar energy sellers and buyers this year. However, it is possible to make some predictions by analyzing the industry’s growth so far. So, here are some solar energy trends that we are most likely to experience in 2017.
Although it may seem unlikely, Trump will begin to appreciate green policy-making in 2017 since it is a cheaper alternative. If Trump wishes to make the U.S. self-sufficient, renewable energy is his best bet. Independence is not only important for president-elect Trump; it is of great value to the citizens of the country too. This means that individual citizens will become more inclined to make use of solar energy this year.
Major corporations made it clear in 2016 that they have agrowing interest in renewable resources. Not only did big names like Apple, Google and Microsoft make major commitments to renewable energy sources in 2016, but they also came together last May under a formal alliance to find more sources to buy renewable energy. Therefore, we can definitely expect such major business organizations to make power purchase agreements and direct builds. Who knows, they might even take things one step further.
When it comes to solar energy business, small and medium sized companies – especially those which specialize in rooftop solar energy – are more likely to thrive than bigger corporations. Since the latter uses a great deal of debt to make revenue, they eventually get knocked out of the game. In 2017, simplified solar energy financing solutions will be available for small businesses due to the increasing demand for this renewable energy. So, purchasing residential solar systems from small and medium-sized companies such as Sunlife Solar is a wise idea as they will become more lucrative and reliable in the near future.
Unfortunately, the current supply chain is almost entirely dominated by Asia. Products such as wafers, cells, junction boxes, glass and aluminum frames are available in China for cheaper prices and in good quality. Without a good plan, it will be extremely difficult to increase manufacturing in the United States. Since the tariffs are makings things worse for manufacturers, Asia will continue to dominate the solar energy market in 2017. That isunless Trump finds a way to make the supply of key solar energy components available in the U.S to increase production. Even if he reduces the tariffs on cells and extruded aluminum, it might take some time for the U.S. to improve the finances of solar manufacturers in the country.
Furthermore, it is also predicted that India will gain more significance in the global solar energy market in 2017. The country is ready to invest about $3 billion in state funding for the solar panel manufacturing infrastructure. All these predictions show that there is much action packed in 2017 for the solar energy business.
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