Market Snapshot: Trends in Solar Energy

The amount of electricity generated by solar energy in the U.S. is increasing. In 2010 less than 0.1% of electricity generation came from solar energy – in 2020 this has increased to nearly 3%. In some states, solar accounts for approximately 20% of all electricity generated. Additionally, the cost of solar electricity is decreasing due to global economies of scale, technology innovation, and greater confidence in PV technology.

This growth is not only being seen in traditional installations but is also making inroads in nontraditional applications. From space travel to drones and vehicles, solar energy is an exciting field. In BCC Research’s coverage of the solar energy market, it reports that the global market for solar power technologies should grow from $143.3 billion in 2018 to $286.3 billion by 2023 at a compound annual growth rate (CAGR) of 14.9% during the forecast period of 2018-2023. BCC Research published a report covering space-based solar power (SSP) – space is among the new frontiers for solar power, and SSP is expected to play an important role in the future of power generation given its seemingly limitless potential. While certain challenges and limitations exist for SSP, including transporting the solar panels to space, other innovations are helping to overcome these challenges. For example, the development of reusable rockets is expected to enable the development of space-based solar power and help meet Earth-based energy needs.

Solar power innovations mostly occur in two technology areas, solar photovoltaics (PV) and Concentrated Solar Power (CSP). Solar cells are also referred to as photovoltaic cells and convert sunlight directly into electricity. BCC Research reports that the global market for alternative solar photovoltaic (PV) technologies should grow from $1.9 billion in 2018 to nearly $2.3 billion by 2023 with a CAGR of 3.6% for the period of 2018-2023. Some of the key technologies in this area include key technologies like CIS/CIGS, CdTe, a-Si, DSSC and OPV, and more. The largest PV systems in the country are located in California and produce power for utilities to distribute to their customers. The Solar Star PV power station produces 579 megawatts of electricity, while the Topaz Solar Farm and Desert Sunlight Solar Farm each produce 550 megawatts.

MarketsandMarkets provides coverage of many different solar energy technologies, including solar vehicles, solar lighting, Concentrating Solar Power (CSP), different solar materials, and more. Concentrating Solar Power (CSP) is achieved when solar energy is collected using mirrors to concentrate sunlight onto receivers and convert this energy into heat, which may be used to produce electricity using a steam turbine or heat engine driving a generator. The global CSP market is projected to reach $7.6 billion by 2025, at a CAGR of 16.4%, from an estimated $3.5 billion in 2020. Market drivers include: environmental concerns over carbon emissions; efforts to reduce air pollution; including policy support from governments for renewable technologies; and the integrability of CSP systems with thermal storage systems. Furthermore, hybrid power plants use two or more technologies and may include oil, natural gas, biomass, hydropower, geothermal power, storage, solar CSP, solar PV, wind turbines, coal, or nuclear power to generate electricity or any other products, such as hydrogen. CSP offers the potential for hybridization with different energy sources ranging from conventional fossil fuels to biomass and other concentrating solar power or other renewable combinations.

The U.S. Department of Energy (DOE) has been at the forefront of solar energy technology development. Its Solar Energy Technologies Office provides valuable resources and information on this renewable energy source. However, interest in solar energy extends beyond DOE. The Department of Defense (DoD) and NASA are also on the cutting edge of solar energy technology and development. NREL is partnering with both DoD and NASA on a variety of projects. Through the continued exploration of novel application areas, it appears that the sky, and beyond, is the limit for solar energy.

 

Developing Network Contacts (DevNC)

When you need to reach out...

There are times when you need to reach out to others – whether you are looking for potential customers, potential partners, or potential investors. But who should you call…and how do you address your fear of contacting them. The DevNC is a unique market research tool designed to provide you with between 25 and 30 Points of Contact (PoC). With each POC, information is included that provides insight about the person’s role. Depending on their position, other information commonly included relates to their background, articles that they have written, conference presentations and other pertinent information. This type of information enables you to customize your correspondence. Contact information is also included  – typically LinkedIn, email and phone number.

Competitor Analysis

Your customers know your competitors! Do you?

Maybe you believe that you don’t have any competition, but your customers know better! Their needs are being addressed now – perhaps not as well, but if there is a need, someone is providing a solution. Learn about the competition and be prepared to differentiate your solution from that of others. Dawnbreaker’s competitor analysis contrasts your competition on specifications, performance and price. Armed with this information we can help you create a compelling value proposition.

DoD Transition Information Packet (TIP)®

The Transition Information Packet (TIP) is a market research report specifically developed for small businesses working with the Department of Defense.

Customized Market Research (CMR)®

Filling in the gaps in your commercialization strategy….

The CMR provides our team with the greatest flexibility in addressing gaps in the information you need to refine your commercialization strategy. Based strictly on secondary literature, the market researcher can look for information that will help you understand changes in government regulations, market dynamics, emerging solutions, sources of funding, points of contact and other challenges you pose. Based on the information gathered, a business strategist will add comments throughout regarding the implications of the information for your strategy.

LICA Licensee Analysis®

Who will take the best care of your baby?

You’ve done a great job with your R&D. You’ve been careful to protect your intellectual property – but those next steps to bring the product to market seem out of reach. There’s too much competition, scale up would be too expensive – so you’ve decided to license-out your intellectual property. The challenge before you is to find the best licensee to bring your baby to market. Let us help you. We will profile organizations that frequently cite your patents and dig deeper to determine their financial health, technology and market synergies, and experience with licensing-in.

Commercial Potential Assessment (CPA)

Be wary of big numbers!

You’ve done a great job with your R&D. You’ve been careful to protect your intellectual property – but those next steps to bring the product to market seem out of reach. There’s too much competition, scale up would be too expensive – so you’ve decided to license-out your intellectual property. The challenge before you is to find the best licensee to bring your baby to market. Let us help you. We will profile organizations that frequently cite your patents and dig deeper to determine their financial health, technology and market synergies, and experience with licensing-in.