Homeowners! You should know about these solar energy trends in 2024

As power outages become more frequent and the cost of electricity continues to climb, many homeowners are turning to solar energy, drawn by its significant savings in both cost and energy consumption. “The beginning of the year is a perfect opportunity to evaluate your home’s energy requirements for the upcoming year and to start strategizing on ways to reduce energy usage, cut expenses, and guarantee a steady supply of dependable electricity—particularly as the cost of diesel increases, making generators even less affordable,” said Rein Snoeck Henkemans, Managing Director of Alumo Energy. “For achieving these goals, there’s nothing quite like the long-term savings that a well-installed, high-quality home solar system can offer, potentially serving your family for many years and enhancing the value of your home,” Henkemans further commented. Here are the newest trends in solar energy to keep an eye on.

A few solar energy trends that homeowners should consider

Advancements in smart monitoring technology

With the increasing popularity of solar power and the need for worldwide solar manufacturers to stay up with the rapid advancement of technology, new systems are becoming increasingly more effective than their predecessors.

“In the near future, we anticipate a significant shift towards artificial intelligence-enabled smart monitoring systems. These advanced systems will collect data, and continuously analyse and learn from it, optimising energy production and consumption in real-time and also detect potential issues,” Snoeck Henkemans said.

Battery efficiency improvements

Continued work is being done to develop batteries with higher energy densities and longer lifespans.

One of the most exciting solar energy trends is the use of new and advanced materials in battery manufacturing can lead to more efficient energy storage.

Smart battery management systems with integrated tools have a substantially increased capacity to optimise the performance of batteries in solar systems.

These systems can monitor and manage the state of charge and other important parameters of a battery, thereby enhancing its efficiency and lifespan.

Low voltage batteries are gradually giving way to mid- or high-voltage batteries in solar systems. Because they use less current to supply the same amount of power and increase the system’s overall energy transfer efficiency, high voltage batteries are preferable. Additionally, these batteries work better with contemporary appliances like electric cars, which frequently need greater voltages to function at their best.

Innovations in battery manufacturing processes will ultimately lead to more efficient and cost-effective solar batteries, which includes the development of more sustainable and scalable manufacturing processes.

Increasing gap between grid energy costs and solar installations

Over the years, as technology has advanced and production prices have declined due to economies of scale, the cost of solar panels and associated equipment has decreased dramatically. In addition, a global component glut has caused several suppliers to lower their prices in order to clear out their inventory; this trend is anticipated to persist into the first half of 2024.

“This bodes well for homeowners, as price decreases will make it even more cost-effective to install a solar system instead of relying on grid energy, which is getting more expensive every year,” said Snoeck Henkemans.

He notes that energy prices continue to rise while homeowners have less hours of electricity every day. In July 2023, the price of Eskom-supplied electricity soared by 18.49%, with more above-inflation increases expected this year.

“Rent-to-own options, such as those provided by Alumo, could cost the same as your monthly energy bill. This would mean that the full amount would be paid off within a short few years, and homeowners could save substantially on their monthly electricity bill. The other benefit of these systems is that they provide homeowners with constant access to an energy supply during load shedding, while lowering energy usage throughout the rest of the day,” Snoeck Henkemans further said.

Conclusion

As we embrace the future, solar energy is the new way forward for homeowners. The solar energy trends of 2024 signal a paradigm shift towards sustainable living, with solar technology at the forefront. Smart systems, efficient batteries, and cost-effective solutions are not just trends but investments in a brighter, greener future. Contact Alumo to start harnessing the sun’s power, ensuring energy security and financial savings. The time to act is now; the future is solar. With each panel installed, we’re not just powering homes—we’re empowering communities and paving the way for a sustainable legacy that will shine for generations to come.