New Solar Technologies
There is no doubt that solar technology will continue to evolve in the coming decade. One element of this is the increased investment in R&D now that global warming is being taken seriously. Another element is that learning will occur as production volumes rise. We know, for example, that thin film solar panels will become more common, in addition to the familiar silicon-based photovoltaic panels that are commonly in use. Much of the new technology investment is going into improving the cost of electrical output (i.e. cost per watt of electricity).
If you are curious whether now is the right time to invest in solar, it is critical to understand that lower cost/watt is a prime goal . Cost/watt, net of incentives, is currently at an attractive level. As cost/watt goes down due to technological improvements, incentives are also likely to go down. That means that costs may stay about the same for a while. The goal of policy makers will continue to be to make investing in solar attractive, but not to overdo it.
Forecasting about the future is, of course, difficult. But generally it seems likely that investing in solar now is about as attractive as it will be in the future. That suggests that the real question is whether the return on the investment is good. Convergence Energy has worked to create products and services than yield an attractive investment. Ultimately, you have to be the judge. But if we have succeeded, then now is better time to invest than in the future for two reasons:
1. You can get the attractive return from solar for a longer period
2. You reduce greenhouse gas emissions and lower fossil fuel usage for a longer period