“Rise of Solar Power: Dominating 80% of US Electric Capacity Additions in 2024”

title: Riding the Solar Wave: Catching up on Recent Developments in the Solar Industry

Hello to all my fellow solar enthusiasts out there! You may have noticed an increasing number of headlines reflecting an exciting surge in the world of solar energy, and I’m here to break it all down for you. From significant advancements by solar companies to thrilling new prospects for solar panels for your home, read on for the latest news making waves in the industry.

A notable development has just taken place in the sunny islands of Hawaii. The largest solar-plus-storage facility in the state is now up and running. The Kūihelani solar-plus-storage plant harbours a power capacity of 60 MW and is paired with a 240 MWh battery energy storage system, enough to generate electricity for 27,000 homes!

Solar is marching towards an ever-brighter future, showing no signs of slowing down. In fact, solar is projected to account for an incredible 80% of U.S. electric capacity additions in 2024. Teamed with wind power, these two renewable juggernauts are on track to represent a whopping 99% of all capacity additions.

In the realm of solar panels for your home, Maxeon Solar Technologies has revealed some exciting advancements. Their Interdigitated Back Contact (IBC) solar panels have been found to demonstrate a lesser risk of hotspots. This translates to more evenly dispersed heat, cooler operating temperatures under shade—a huge boon against solar panel degradation.

Now, let’s take a quick look into the world of cutting-edge solar technology. Swift Solar recently closed a funding round of $27 million, which it plans to use for quite an exciting venture—a perovskite solar factory. If you’re not familiar with this term, perovskite is a material hailed for its superior efficiency and flexibility compared to conventional solar cells. Swift Solar plans to build this factory within the next two to three years, promising to usher in a new era of thin-film solar technology that could greatly benefit your home solar array.

Navigating the complexities of the solar industry can seem a bit daunting, but a new startup known as Giraffe Financial is stepping up to the challenge. Armed with their recent pre-seed funding of $1.5 million, Giraffe aims to assist underserved small and medium-sized businesses by simplifying access to IRA tax credits.

However, it’s also worth noting that as solar companies continue to make strides and push boundaries, there’s also a parallel emphasis on maintaining responsible, ethical practices. With allegations of forced labor against Chinese battery heavyweights CATL and Gotion currently under review, the solar industry is reminded that corporal responsibility is just as important as technological innovation.

Finally, Bitech Technologies sold 2.4 GW of its greenfield solar projects to a third-party purchaser. Rather than signifying a step back, this move allows them to concentrate their energy and resources on their battery-storage business—a sphere that promises prosperous investment returns.

In summary, it’s an exhilarating time in the solar industry. Whether you’re looking to invest in a solar array for your home, keep tabs on the latest advancements, or just have an interest in all things solar, the future sure looks bright. Be sure to stick around and follow along for the ride. Until next time!

Original Articlehttps://pv-magazine-usa.com/2024/06/14/sunrise-brief-solar-represents-over-80-of-u-s-electric-capacity-additions-in-2024/

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