Sometimes, a little foresight goes a long way. When committing to an energy investment, it’s good to know if the technology you’re investing in aligns with your ideal future intentions. Safeguard your exposure to potential buyer’s remorse by understanding the new technology direction. Which direction are the world’s leading manufacturers heading in as we enter the upcoming year? Here are the top 5 solar energy predictions for 2024 (Residential Edition) to assist in fine-tuning your home’s self-sufficient power supply.
More likely than less likely, the cost of electricity from Synergy will continue to rise as it has done so consistently for the last decade. Global energy demand continues to rise, affecting wholesale rates. An estimated 3% increase is where a true cost reflection will likely come on 1 July 2024. Therefore, beyond the most likely circumstances of energy market predictions, it’s essential to understand the future technology landscape to avoid investing in a less considered direction.
Therefore, PSW Energy’s top 5 solar energy predictions in 2024 centre around the general technology direction for an informed, self-sufficient power supply investment–everything encompassing a solar energy system from 2024 and beyond. As a bonus, solar energy predictions on a manufacturer technology level (most anticipated product predictions) are below our broader industry top 5 solar energy predictions.
Top 5 solar energy predictions
When we consider solar energy predictions in 2024, it’s less about the solar panel technology improvements (except one) and more about the related infrastructure that supports user experience and enhanced satisfaction, rendering superior value from your investment.
Improved aesthetic design, standard
We’re going to see better-looking technology more affordable than ever. Gone are the days when solar energy equipment comes with reduced aesthetic appeal that detracts from one’s most significant investment – your home. From streamlined colour-coded solar arrays to sophisticated energy management systems that are certain to add a new dynamic to your conversational output, levelling up your energy independence has never been more affordable than in 2024.
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Battery adoption the new normal
In the second half of 2023, we experience unprecedented levels of energy storage adoption compared to previous years. Gauging the PSW shop, the final quarter of 2023 saw a 250% improved battery adoption rate for solar batteries compared to the 2022 December to October quarter. This trend will continue as battery feasibility has levelled around $1000 kWh (average) installed, and customers realise benefits beyond bill savings, such as blackout protection and enhanced energy ecosystem function.
Perhaps most convincing in the realm of battery adoption is the potential for increased solar array oversizing where grid limitations exist. In 2024, switched-on energy investors realised that energy independence exists in the overall daily yield (kWh) instead of power (kW) generation alone. Adopting storage simultaneously with solar generation provides the solution most seek: a 360° self-sufficient personal power supply as energy security from grid electricity.
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Solar optimisation the new energy storage
At approximately $1000 kWh (depending on product selection), significant capacity of residential energy storage still presents an investment hurdle for many. Therefore, why not consider appliances that can intelligently operate using excess solar power before exporting to the grid? Solar-optimised products, such as the Fronius suite, exist for storage hot water systems and electric vehicle charging, assisting a more fine-tuned and economical operation to storage alone. Expect solar optimisation to extend to selected air conditioning systems (thermal mass) and appliances with similar functions beyond 2024.
To streamline your solar optimisation, consider an all-in-one energy ecosystem to reduce the dependency on repetitive system hardware. Solar optimisation leads to the second most favourable shift on the 2024 solar energy predictions landscape…
Energy ecosystems to take centre stage
You are no longer buying just a solar energy system in 2024. You’re investing in a future energy ecosystem, and the solar system is the foundation of an interconnected energy world designed to assist your alternative energy products in working with improved communicative harmony. The evolution of your energy ecosystem takes shape with greater energy visualisation and control, energy storage options (Battery), electric vehicle charging, and appliance control (hot water, air conditioning, etc) as another energy storage layer.
An interconnected energy ecosystem shifts your energy dependency away from the grid and saves you money long-term. Product selection for a superior software suite is vital in 2024.
It begins with an express quote. Perth and Bunbury region customers, turn these solar energy predictions into reality.
Solar panel efficiency will reach 24%
We’re about to see a massive 1.5% efficiency leap. Expect the first 24% efficiency solar panels to arrive on Australian shores in late 2024. Improving module efficiency to 24% will see the current 440W solar panels (22.5% module efficiency) reach 475W power output, reducing the number of solar panels and, most importantly, footprint to achieve the ideal system size of 6.6, 10 and 13 kW.
475W solar panels indeed exist already in 2024. However, these are inflated in size and not a technology upgrade. As with any improved technology, expect an increased cost difference from the mainstream options currently hovering around 22.5% module efficiency.
When we consider solar energy predictions from 2024, it’s less about the splitting hairs of solar panel technology improvements and more about the related infrastructure that supports superior user experience. Consider user experience the filling in of the gaps in solar, and ask yourself: how do I maximise my return on investment? The answer is through more intelligent operation and use.
Interestingly, early adopters have already begun implementing the above solar energy predictions, ironing out likely hurdles that often accompany broader technology improvements. Through improved awareness, 2024 is the year that mass consumer uptake occurs for all layers of solar-integrated hardware.
Unlike in 2008, solar energy in 2024 is more than power generation from sunlight. Within almost two decades, it has come full circle to encompass a self-sufficient power supply with a low maintenance appeal through improved technology.
Most anticipated solar product predictions
The good news is that many solar energy predictions are already in the works, and it’s more a question of timing. We expect specific product releases to get many excited throughout the 2024 calendar year. Here are our estimated arrival dates for this year’s highly anticipated solar energy products.