Bright future: Solar energy industry expects rapid growth, profits

Global Business

With solar panel system prices falling nearly 20 percent last year, the industry is expected to almost triple in size within the next five years.

That’s why in Oakland, California, an accelerator program is hoping to cash in on the boom by developing innovative products to usher in an intelligent energy era.

CGTN’s Mark Niu reports.

Powerhouse accelerator is the world’s only incubator and accelerator program solely focused on what it calls intelligent energy – which includes solar, storage and power grid integration.

Forty-three companies have been housed in this space like Avalon Battery, which builds something called flow batteries.

Their product, already being used at solar system sites like this, can better handle intense discharges while extending battery life.

In 2016, U.S. solar had its biggest year, for the first time ever, adding more electric generating capacity than any other source of energy. But in 2017, the Trump administration took office with a very different mindset.

Emily Kirsch on how technology, politics are impacting the booming solar industry

Mark Niu sat down with Powerhouse’s CEO Emily Kirsch, to find out more on how technology and politics, are impacting the booming solar industry.