We are all tempted to wait for the next big thing in anything, but it might not be a smart idea for you to do that in the case of solar power. Because you might have to wait long, perhaps very long.
While there is continuous technological improvement happening in solar panels, the industry has stabilized around two main types – crystalline and thin film solar panels.
While there are incremental changes occurring in both thin film and crystalline technologies, we at Solar Mango do not expect any dramatic, disruptive changes to solar panel technology for at least the next 10 years.
Some perspective could help: The dominant crystalline solar panel technology used in 2017 is not very different from the one that was used for the earliest solar panels manufactured almost 50 years back. While costs have fallen owing to scales and gradual technology development, the basic technology has remained the same.
For fifty years, the basic crystalline solar panel technology has held its ground. Surely this history should count for something?
So, should you wait for a big breakthrough in solar power technology before you invest in a solar power plant? The answer: No, unless you are willing to wait for 10 years or longer.