The solar industry has been very hot. Record amounts of new solar capacity have been installed over the past two years. The accelerating pace of adoption of solar panels for distributed generation (installed at the point of use, rather than sold into the power grid) and the downward trend of module prices have created exuberance over the industry’s future.
The rapidly decreasing costs of solar cells and corresponding growth of the global solar industry have lead people to invoke Moore’s law and predict that the installed capacity of solar PV on homes and businesses will double every two years. The total installed capacity worldwide and in the U.S. doubled over the last two and a half years.
The longer-term future of the solar industry, and especially the future of distributed solar PV, is exciting and the economic potential is simply immense. The industry will certainly go through a period of exponential growth.