Solar energy systems that use concentrated solar power are gaining popularity as the cost of rooftop solar has fallen and companies are trying to find cheaper ways to sell the solar power to customers.
Here are five solar energy systems to keep in mind.
SolarCity: SolarCity, which offers solar panels on a home’s roof, has seen a surge in sales since the solar panel manufacturing company’s recent acquisition of SunEdison, according to analysts at Morgan Stanley.
Solar power is still the dominant source of electricity for many households, with an average of 70 per cent of households using solar energy.
But with the costs of installing solar panels falling and the costs associated with building out a solar array plummeting, the solar energy industry is taking off.
Solar City recently sold its rooftop solar system business to SolarCity Corp., a unit of Chinese e-commerce giant Alibaba Group Holding Ltd.
Alibaba bought the solar company in 2015.
In addition to selling its rooftop energy business, SolarCity has also invested in solar power systems.
Solar energy system prices have fallen over the past few years, but the company’s business has continued to expand, according the report.
Solar Power Systems Market Share, by Solar Energy Industries Association: The industry is also seeing an expansion of the market for solar power system products.
In 2017, the number of systems sold increased by 9 per cent to 5.3 million units, according data from the Solar Energy Industry Association.
The industry has also seen growth in the cost per watt, and the cost is dropping quickly.
The average cost per kW of a solar power installation fell from $15.20 in 2014 to $10.14 in 2017, according research from market research firm GTM Research.
Solar Energy Systems Market Cap, by PV Supply Chain Research: Solar Energy Supply Chain (SES), a research firm that tracks solar energy supply chains, estimates that the number two solar power supplier in the US is SunEdision Corp. The company, which has about 40 per cent market share in the U.S., is also looking to expand in Europe, according GTM.
SunEdisions solar power module manufacturing facilities are located in Australia, Germany and Italy, where it plans to build new plant and expand existing plants in the next two years.
In a 2017 filing with the Securities and Exchange Commission, SunEdisons Solar Power Module business said it is looking to open new plants in Germany in 2018 and Italy in 2019.
The Solar Energy Production Association says that solar power modules have an average life of five years, with a maximum life of 15 years.
According to GTM, the average cost of a PV system is about $60 per kW. 2.
Green Roof Solar: The solar energy startup Green Roof has attracted some attention as a viable option for people looking to make money selling solar panels, although it’s not necessarily a household solar product.
Green roofing systems are usually installed at garage doorways, parks and outdoor patios.
The startup recently closed its doors and was bought by a group of investors in 2017.
The Green Roof solar power product is installed at home using a combination of solar panels and energy storage.
A typical solar power unit, like the Green Roof Energy Power Supply Module, costs about $80 per kW to build.
Solar Roof: The startup Solar Roof has recently been buying up companies like SSE Solar and Solar Energy Research Corp., which are looking to increase their market share and offer solar power in the homes of customers.
In the coming months, the company plans to launch a product line of solar systems, called Solar Roof Energy Solutions.
The product line will include the Solar Roof Solar Energy Solution and Solar Roof Power Solutions, according a release.
SolarEdge: The SolarEdge solar power business has been around for about six years.
Its solar power products include the Green Solar Solar Solution, the Solar Edge Energy Solutions and the SolarEdge Energy Solutions Plus, according Toews Solar Energy Technology and Energy.
The first SolarEdge product, the Green Power Solar Solution sold in 2016, cost about $200 per kW and the second SolarEdge Power Solution sold last year cost about the same.
SolarGolf: SolarGoggle is a small, privately owned company in Calgary, Canada that builds solar power units for residential and commercial clients.
The energy product is made by SolarEdge and uses modules and batteries to deliver electricity to customers, according SolarEdge.
A SolarEdge Solar Power System sells for about $2,000, according its website.
Greenhouse Solar: Greenhouse is a Canadian solar power company that builds a variety of solar power solutions, including solar roof systems, solar power inverters and solar energy modules.
Greenhouses have been around since 2008 and offer systems for about four times the cost, according The Globe and Mail.
The Globe reported that Greenhouse solar power has been in use in homes in Toronto since the late 1990s.
SolarRent: The energy startup SolarRental