Over the last few years, the growth of the off-grid solar sector has been stratospheric, and it’s now transforming the lives of millions of people around the globe.
Just here in the United States, the total installed solar PV capacity surpassed 71 GW in the Q3 of last year— which is enough to power 13.5 million American homes.
And when you consider the fact that there are 840 million people around the world that still don’t have access to electricity, it becomes evident that the off-grid solar product market will continue to grow in the coming years.
How Innovative Energy Storage Solutions are Contributing to the Growth of the Solar Sector
Modern solar power generation systems are comprised of a photovoltaic (PV) module which converts solar energy into electrical energy, and an energy storage solution for storing this energy and providing on-demand power.
Batteries, therefore, are a critical component of solar power generation systems.
In the preceding years, technological advancements have contributed significantly to the development of more efficient battery technologies and reducing costs.
This, in turn, has supported the development of innovative off-grid solar power generation systems.
How Lithium Batteries are Driving Growth of the Off-Grid Solar Sector
Lithium-ion and lead-acid have been the two battery technologies that have dominated the off-grid solar sector.
The former has been conventionally used with smaller products, while bigger products, like residential and commercial solar power generation systems, have been powered by the latter.
However, this scenario is now changing. In the last decade, prices of lithium-ion battery packs have decreased by as much as 85%.
The fall in prices has been primarily driven by the significant growth of the hybrid and electrical vehicle sector, and the investments and technological advancements made by companies like Tesla.
The other reason for lithium batteries becoming an increasingly common choice for solar power generation systems is the substantial advantages they offer over nickel-metal hydride lead-acid batteries in terms of cycle life, charging speed, efficiency, and deep discharging capability.
The Bottom Line
The use of solar power generation systems in remote areas has become increasingly common.
However, technical support and access to replacement components is limited in such areas, and an energy storage solution with a higher cycle life makes a considerable difference. This is exactly what lithium-ion batteries offer.
By re-purposing e-waste, our goal is to promote a more sustainable circular economy. Get in touch with us for more information on the products and services we offer.