Introduction
The scope of TREND-UP Solar’s market research and analysis extends from theoretical considerations to practical implementations of the technology. Costs, legislation, markets, siting, integration, and technical support for stakeholders in solar technology are all covered. TREND-UP programs aim to create innovative approaches to solar energy production through the collaborative efforts of communities, governments, nonprofits, and businesses. TREND-UP provides analytic support and a centralized location for these groups to collaborate. This research aims to assess TREND-plans UP’s for expanding its market share and sales throughout the city of Toronto.
Island Sun System Business Situation Analysis
Using a variety of financial instruments and policy actions, TREND-up analyzes how trends in the solar industry are shaping the current and future markets for solar power (Halton, 2021). The TREND-UP solar technology cost study looks at the price tag and potential snags in the solar photovoltaic supply chain. This work contributes to the advancement of solar technology by illuminating the factors that affect the price and competitiveness of these systems.
Different Needs of Early Adopters Compared to Early Majority Customers
Knowing what pushes people to accept sustainable technology like solar photovoltaics (PV) can help in their adoption and in predicting their spread (NetZero, 2022). Adoption motivations may shift when new user groups become interested in the technology because early adopters are thought to be motivated by factors disregarded by late adopters. Environmental consciousness and a love of technology are the primary motivators for early adopters. Reasons for adoption are primarily financial for those who adopt later. Distinguishing what kinds of informational measures various groups require requires classifying homes into various ideal categories. Increasing the number of current PVs will require various initiatives to be developed simultaneously to accommodate the interests of all relevant stakeholders.
Analysis of Key Barriers and Enables Early Majority Customer Adoption of Solar Energy Systems
People normally put much thought and work into big purchases like solar panel installation. It has been described that when a family decides to adopt such technology, they must (a) learn about the possibilities available, (b) weigh the benefits and drawbacks of those options, and (c) put their choice into action (Reindl, 2021). Though the decision-making process contains these steps, Rogers’ model has been attacked for its linearity. The characterization of the technology and the social context in which an investment is made are both critical for understanding the uptake of green technologies like PVs (QuestionsPro, 2022). People’s decisions are affected by the institutional, geographical, cultural, and temporal settings in which they are made.
Motivating factors for PV investment have been found. The driver frequently brought up issues related to the environment. Making a financially sound decision that can be defended to friends and neighbors may be crucial from a domestic perspective. However, people are unlikely to have all the necessary information because of the intricacy of the decision-making process (Desjardins, 2017). What makes sense from a technological or commercial standpoint may not always make sense for particular users. It appears to be challenging to confirm the premise that households make such logical choices in actuality. Moreover, even if people make an effort to act rationally, they may not be aware of all the available options, or they may lack the resources to collect and interpret the information, leading them to prioritize a subset of the available options and their associated consequences.
As a result, households generally aim for a satisfying outcome rather than considering the likely outcomes and associated risks before choosing the most logical, optimal decision possible (Ivanov, 2022). Energy expenses, the PV system’s impact on home value, local and global environmental considerations, the value of a “clean” system or technology, and fees and tariffs associated with inspection and maintenance are only some factors that homeowners must take into account.
Types of Innovations
The lack of customer experience with technologies like solar panels and low-energy homes may contribute to Sweden’s low adoption rate (Ferster, 2017). Households have no idea what to ask for in terms of solutions because they have no prior experience with things like PVs. This factor also contributes to the stagnant growth of the market (Urban, 2018). Sweden’s homeowners may not always prioritize the ability to generate their electricity when considering their energy infrastructure. Another problem with PV panel investments is their unfavorable short-term results, such as a high initial financial commitment, time-consuming administrative procedures, and construction. All the good stuff happens in the long run, but it is more nebulous and less obvious in the short term.
Relative Advantage
Modifying the solar spectrum to generate power: As solar cells (often silicon or cadmium telluride) rarely contribute more than 20% of the overall cost, the majority of the cost associated with installing solar panels is attributable to land and labor (Gomes, 2022). It follows that if less land were required to house the panels, the cost of solar power would decrease. To do this, it is ideal if the output of each solar cell is increased, but doing so is challenging.
Trialability
Use of Floating panels: Large-scale surface solar systems face a shortage of available land in many nations. Because governments are reluctant to sacrifice prime agricultural land for ground-mounted solar arrays, businesses are developing environmentally friendly alternatives (Doblin, 2022). Water-intensive enterprises that cannot afford to squander either land or water will benefit significantly from this straightforward and cost-effective alternative to ground-mounted systems.
Observability
Getting more use out of the sun’s energy: Without a question, the sun is Earth’s most significant renewable energy source, yet its low efficiency presents a dilemma. Without proper tracking, the average yearly tilt losses for all solar panels worldwide add up to a negative 70%. The cutting-edge layout can be rotated 360 degrees and used on rooftops, vertical surfaces, and other locations with clear sky views. It can also serve as a charging station for electric vehicles.
Compatibility
Use of floating solar farms: Over time, silicon panels have decreased in price and increased in efficiency. Experts claim that photovoltaic panels’ efficiency and other benefits can be maximized by mounting them on reservoirs and other water bodies. Floating solar farms may produce large amounts of electricity without sacrificing any precious real estate. Compared to traditional solar panels installed on land, the price to install solar panels that float on water is far lower. Studies have also shown that the cooling impact of water can increase the power output of floating solar panels by as much as 10%.
Reduced Complexity
The use of BIPV solar innovations: Roofs, canopies, wall panels, facades, and solar systems are all places where building-integrated photovoltaics (BIPV) can be installed. In contrast to conventional solar PV panels, BIPV does not have to sacrifice aesthetics for functionality.
Recommendation
The eco-conscious crowd does not need convincing to put money into solar panels. However, further data from an impartial source, such as the Swedish Energy Agency, is required. Easy-to-navigate content devoid of unnecessary technical details and charts would be helpful for them. There is a need for standardized, comparable bids in this sector. In order to reach the sceptics, it may be helpful to standardize terminology and create a labelling system for photovoltaic panels and require installers to obtain certification. Large-scale floating photovoltaic projects provide more electricity for less money than traditional solar farms on land.
Conclusion
Solar panels could only be installed on the ground or a roof. However, thanks to the above developments, solar is expected to become less bulky, more adaptable, and more used in more settings. Envision going to a different city in which all this technology is available. The future will look like this in the not-too-distant future. There is also a plethora of additional cutting-edge solar solutions for homes that are being tested or released in 2022. Perovskite solar cells, which may soon be used to make solar paint, are among the most exciting developments in recent technology.
References
Desjardins, J. (2017). Animation: How Solar Panels Work. Animated Infographic: How Solar Panels Work.
Doblin. (2022). The Ten Types of Innovation Toolkit. Web.
Ferster, B. (2017). The Diffusion Of Innovations: Everett Rogers.eLearning Industry. Web.
Gomes, F. R. (2022). Diffusion of innovations.
Halton, C. (2021). Diffusion of Innovations Theory: Definition and Examples.Investopedia. Web.
Ivanov, E. (2022). Five Barriers to Adopting Open Innovation and How to Overcome Them.Herox. Web.
NetZero Solar. (n.d.).
QuestionsPro. (2022). Secondary Research: Definition, Methods and Examples.QuestionsPro. Web.
Reindl, K., & Palm, J. (2021). Installing PV: Barriers and enablers experienced by non-residential property owners.Renewable and Sustainable Energy Reviews, 141, 110829.
Urban, R. (2021). Solar Power British Columbia (2021 Guide).EnergyHub.