Identification of target market transformation efforts for solar energy adoption

Abstract

In recent years, solar energy has been increasing in usage throughout the world, especially in the United States. Market transformation (a concept based on collaborative efforts between industry advocates and policy-makers to increase adoption through economies of scale) plays a fundamental role in expanding the adoption of solar energy. However, there are currently limited resources to identify the optimal locations for increasing the likelihood of industry advocates interested in exploiting opportunities related to solar energy technologies. This study aims to showcase a visual mapping tool to assist with solar energy market transformation. By combining data from different sources, a unique process and output were created. The factors considered in this study include cost of electricity, net metering policies study, cost of solar energy systems, solar irradiance, annual sunshine rates, annual snowfall rates, and annual precipitation rates. All the factors were considered on both a residential and commercial level. The findings rank states from most viable to least viable with respect to the combined input factors. The results show that states with a high likelihood of market transformation at the residential level also have a high likelihood of market transformation at the commercial level.

Keywords

• Market transformation
• Solar energy
• Photovoltaic
• Market analysis
• Startups
• New product development