The World’s Fastest Growing Energy Source Takes Center Stage in Vegas
This year, when the solar industry’s largest annual gathering of manufacturers, installers, contractors and developers convenes in Las Vegas from September 12th through the 15th for Solar Power International (SPI), they’ll do so with a considerable tailwind at their backs. How so? In the U.S., new installed electric generating capacity from solar surpassed that of natural gas for the first time. What’s more, solar now represents 30% of all new electric generating capacity worldwide. And demand for solar continues to grow. While it took 40 years for 27.5 GW of solar energy capacity to be brought online, industry experts expect that capacity to double in as little as five years.
Which is why SPI is one of the fastest growing trade shows for the second year in a row, making it the 101st largest US trade show in terms of square feet of exhibition space. Over 15,000 attendees from more than 75 countries are expected at this year’s show as a result of the industry rapidly evolving from ‘alternative’ to mainstream.
So, what’s driving this impressive surge in solar popularity? One of the key factors – of course – is cost. Price-per-watt continues to come down as a result of both technological advancements and more widespread adoption. In 2015 alone, prices fell anywhere from 5 to 12%, and preliminary data from the first half of 2016 sees this trend continuing in most states and market segments. In the utilities market, the cost reductions were especially dramatic, with prices falling nearly 60% from where they were less than a decade ago.
Solar Gets Smarter
Yet pure economics are not the lone factor in driving the unprecedented uptick in solar adoption. Advancements in what many would call “smarter solar” are equally responsible for the renewed level of interest and attention. Battery energy storage and other solar-plus combinations are unlocking new capabilities for solar solutions to provide unique value for utilities and customers alike. State and Federal support initiatives are serving to amplify this progress.
At the cusp of these developments, Coronal Energy, powered by Panasonic, unites Panasonic’s financial strength and award-winning history of solar innovation and sustainability leadership with the project development, finance, engineering, construction, and asset management experience of Coronal Energy. This complete solutions-delivery platform will provide clients a robust mix of end-to-end services, all under one unified umbrella.
Why does this matter? Because transitioning to solar is a serious commitment, requiring a long-term investment and demanding a unique partnership with an experienced and dedicated partner who can deliver a definitive value proposition that spans 20 years or more. The executive leadership of the Coronal Energy team believes they are uniquely qualified to be there every step of the way, to answer questions that look beyond price and other short-term considerations, and promise smarter solar solutions for a more cost-effective, environmentally responsible business platform for their clients.
The Future is Bright
The Coronal Energy, powered by Panasonic team espouses the idea that “Smarter Solar equals Smarter Business.” As Jonathan Jaffrey, Chief Executive Officer for Coronal Energy states, “It’s critically important for customers to protect their investment by working with an experienced and trusted partner with enduring financial strength.” Jaffrey maintains that there are specific attributes to look for in a solar energy provider: experience, longevity, financial strength, a customer-centric approach, a broad solutions portfolio and comprehensive, turnkey services.
As a leading provider of renewable energy solutions that feature solar photovoltaic modules and battery energy storage, along with a diverse stable of enterprise customers that include utilities, corporations, the public sector, educational institutions, and other organizations, the Coronal Energy team is confident they represent the very best of this movement toward smarter solar. They’ve deployed solutions in 40 states, totaling 2.3 GW nationwide, with more than 3.4 GW of additional greenfield and brownfield projects either under contract or construction, currently in development, or in the pipeline. Some of their more notable deployments are the rooftop installation at Google’s Mountain View, California headquarters, a series of REI stores spanning 8 states, the smart city development at PENA Station next in Denver, and the 35 megawatt solar farm in Tuscon Arizona.
Given the complementary experience, as well as the technological and financial expertise that they’ve brought together into a single solutions platform, the Coronal Energy team has every reason to feel justified in their long held belief that the future of solar is indeed bright.