Shining a Light on Solar’s Bright Future
The end of a year feels like a natural pausing point to reflect on the past and look forward to the future. There’s no doubt that even in recent years the energy industry – particularly the renewables space — has seen mass evolution. This is underpinned by a significant drive in technological advancements and a global push for sustainability.
Undeniably, the numbers speak for themselves.
According to the International Energy Agency (IEA), global renewable capacity is expected to increase by more than 5,520GW between 2024 and 2030, as countries and companies advance their commitments to net zero emissions targets. This figure is 2.6 times more than renewable deployment between 2017 and 2023.
Renewable energy sources have grown at an average annual rate of 2.1% since 1990 to 2021, when renewable energy sources accounted for nearly 30% of global electricity generation.
The transition is marked by the integration of digital technologies and smart energy management systems, which in turn enhance efficiency and optimise resource use.
BloombergNEF says that investment in renewable energy reached a record US$501.3bn in 2020, underscoring the sector’s rapid growth and importance in combating climate change.
And only four years later, that number has quadrupled, with the IEA’s 2024 World Energy Investment report saying total global energy investment this year will likely exceed US$3tn for the first time. Of this, US$2tn will be spent on clean technologies such as renewables, electric vehicles and nuclear power, and a further US$1tn going to coal, oil and gas.
Growth in the solar sector
Within the wider renewables sector, solar energy has seen high adoption rates over recent years, which can be attributed to cost reduction, policy support and environmental awareness, alongside technological advancements and improvements in energy storage and grid integration. The solar PV market alone is projected to grow at a compound annual growth rate of more than 20% by 2026, compared to a 2021 baseline.
As the renewables sector grows, the focus is shifting from traditional hardware solutions to comprehensive energy optimisation strategies that leverage software and AI, ensuring a more sustainable future for the energy landscape.
One such company demonstrating this is SolarEdge Technologies, a prominent player in the renewable energy sector that specialises in smart energy solutions that optimise energy usage for residential, commercial, and utility-scale customers.
Speaking with Energy Digital at Intersolar Europe in Munich, Christelle Barnes, UK Country Manager at SolarEdge Technologies, shares how the company has evolved from a hardware manufacturer to a leading smart energy solution provider. Not only this, SolarEdge positions itself as a sustainability consultant by providing innovative solutions that optimise energy usage across various sectors.
This transformation not only reflects SolarEdge’s commitment to sustainability but showcases its focus on delivering value through optimised energy systems for residential, commercial and utility-scale customers.
“If you’d asked me eight years ago what SolarEdge was, I would’ve said it was an embedded manufacturer,” Christelle says, “and now it’s really a smart energy solution provider.”
The shift in solar solutions
Companies are increasingly adopting sustainable consulting practices to optimise energy usage and enhance efficiency, with SolarEdge Technologies exemplifying this shift.
“SolarEdge has definitely evolved,” Christelle shares. “Now we’re a smart energy solution provider. We're looking to provide solutions to help customers optimise their energy usage.”
This is in line with McKinsey estimations that predict that, by 2026, global renewable electricity capacity will rise more than 80% from 2020 levels to more than 5,022GW. Of this growth, two-thirds will come from wind and solar, an increase of 150%, or 3,404GW.
But what is driving this and what does the future hold? For Christelle, AI is one of the main players shaping the solar industry.
“Digitalisation as a whole is a massive part of solar’s shift and what is making everything, like PV, smarter,” she details. “As well as this, we see electrification being a very big trend. The majority of countries now have targets around electric heating and electric vehicle (EV) usage, so it’s interesting looking at electrification and how that impacts energy usage.”
IEA studies show that electrification — the replacement of technologies or processes that use fossil fuels with electrically-powered equivalents — although increasing electricity demand, is typically more efficient, reducing energy demand and impacting on emissions as electricity generation is decarbonised.
The association’s Executive Chairman Dr Fatih Birol, in light of 670GW of new renewable capacity added globally in 2024, says: “Renewables’ unprecedented growth means they’re on course to meet around half of global electricity demand by the end of this decade. By 2030, the share of solar PV and wind alone in the global power mix is set to double to 30%.
“Solar is powering growth in renewables around the world. Solar PV alone is set to account for a massive 80% of new renewable capacity added globally between now and 2030. This comes from new large power plants — but also rooftop installations of solar panels by companies and households.”
This booming growth in renewables — namely solar — has motivated SolarEdge’s emphasis on battery storage, meaning that from the start of the project lifecycle to the end, SolarEdge’s customers are equipped with an optimised energy ecosystem.
What’s next for the solar industry?
As a brand built on differentiation, Christelle shares that SolarEdge delivers enhanced value by developing unique solutions that combine inverters and optimisers. This puts the company in a position to actively respond to key industry trends.
For example, the SolarEdge One platform offers energy management tools that leverage AI and weather forecasting to help customers optimise energy usage. This plays a key role in how SolarEdge optimises the smart energy ecosystem
“We’re all about looking at how we can optimise an actual system first through hardware, but now also through software,” Christelle says.
In keeping with the fast pace of the industry, a critical aspect of SolarEdge’s approach is supporting installers throughout the entire project lifecycle. By providing extensive training, pre-sales design tools and innovative installation apps like SolarEdge Go, the company ensures high-quality implementations and supports industry best practices.
Looking forward, SolarEdge continues to expand its portfolio, with a particular focus on software solutions that enable customers to take advantage of dynamic tariff structures and emerging electricity sector trends.
While Christelle acknowledges that predicting exact future developments is challenging, current solar trends indicate that the industry is moving towards more integrated, intelligent, and flexible energy solutions that can adapt to changing energy usage patterns and market demands.
This is a demonstration that the future of solar is, if you’ll pardon the pun, bright.
As summarised by Elon Musk — who believes not enough is being done to harness the power of the sun’s energy — the Tesla CEO says: “Soon, solar energy will be so cheap that it will out-compete all other forms of electricity production, except perhaps hydroelectricity.
“Solar power will be the vast majority of power generation in the future.”
As we harness the power of the sun more efficiently and innovatively, we are not only addressing immediate energy needs but also paving the way for a sustainable and resilient energy landscape.
The integration of advanced technologies like AI alongside energy storage and smart grid systems is revolutionising how we interact with energy. And as public awareness of climate change grows, so does the demand for cleaner energy solutions. With supportive policies and community initiatives amplifying this momentum, solar energy is set to become a cornerstone of global energy strategies, playing an increasingly significant role in the broader energy landscape
To read the full story in the magazine click HERE
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