The Solar Revolution: How Solar Has Evolved in the Last Decade

The last 10 years have been a period of immense growth and innovation for solar technology. As prices have plummeted and efficiency has increased, solar adoption has skyrocketed across the country–especially here in the state of Texas. In this blog, we’ll explore the solar revolution of the last decade along with key developments and the future outlook for this dynamic industry. North Texas Solar has been serving the Dallas-Fort Worth area since 2015 and we have certainly seen the industry change.

More Economical Solar Panel & Battery Prices

One of the most important factors in solar’s rise to prominence and popularity has been the dramatic reduction in costs. Between 2010 to 2020, the average price of residential solar panels fell over 60% due to improved manufacturing and economies of scale. This made solar a cost-effective electricity source for homeowners. In tandem, lithium-ion battery storage prices dropped nearly 90% in the 2010s thanks to the electric vehicle boom. This enabled affordable home solar battery systems for greater energy independence.

North Texas Solar expects to see a continued, albeit smaller, decrease in solar panel and backup energy materials pricing as the supply grows and becomes more efficient. The growing investment within the renewable energy space is also driving this price decrease.

Improving Efficiency For Solar Panels

While costs have dropped significantly, solar panel efficiency has steadily improved. Top-tier panels converted less than 20% of sunlight into electricity in 2010. Today, cutting-edge solar modules can achieve conversion efficiencies over 22%, producing more power from the same footprint. Solar inverters have also become more efficient to maximize harvested energy. Higher efficiencies equal more energy production and savings over time with solar.

As the technology continues to improve and become more efficient for photovoltaic equipment, North Texas Solar believes the net savings for homeowners and businesses will continue to skyrocket.

Solar Energy and Battery Backup Surge in Texas

Texas has emerged as one of the nation’s top states for solar adoption. With abundant sun, large available spaces, and solar-friendly policies, Texas’ solar capacity grew from just 36 megawatts in 2010 to over 4,600 MW today. This is enough to power nearly 1 million homes! Supportive legislation like net metering along with renewable incentives and rebates have made the Lone Star State a leader in solar energy.

In addition to this, Texans are signing on for greater energy independence like never before. Battery backup solutions, and backup generators, have continued to grow in demand as Texans are looking for ways to secure their energy independence. Solar panels with battery backup, or fully off-grid energy solutions, also help to reduce grid load. If you have been evaluating an off-grid solar energy solution for a new development, North Texas Solar are trusted experts in this unique power model.

What’s Next for Solar Energy?

Experts project strong continued growth in the solar energy sector, with the U.S. residential market expected to expand at least 17% annually over the next 5 years. Ongoing cost reductions and efficiency improvements will further drive adoption. Emerging solar technologies like integrated roof shingles and windows will expand applications. Battery storage will enable increased energy independence and the battery technology itself is evolving more and more every day. With solar already comparable in cost to traditional electricity, the future is bright for solar energy as a sustainable mainstream power source.

At a nationwide level, the federal government has been very supportive of furthering solar energy’s adoption throughout the nation and installing rebate programs to assist with this. The most prominent of these is the investment tax credit (ITC) for switching to solar; the federal goverment has extended a 30% ITC through 2030! If you have questions about how this tax credit can benefit you, please don’t hesitate to reach out to us.

It’s been an eventful decade of innovation and adoption for solar technology across the U.S. and in sunny Texas. With costs down and efficiency up, solar energy empowers homeowners to take control of their energy while reducing environmental impact. As a local solar provider since 2015, we look forward to continuing to bring clean, affordable solar energy to homes across the DFW Metroplex in the years ahead. The solar revolution has only just begun!