Component cost declines, local manufacturing and distributed energy are the three big trends for the renewable energy sector this year, according to S&P Global.

As the demand for clean and renewable energy sources continues to grow, the solar energy industry is expected to experience significant growth and innovation in 2023. Here are some of the big solar energy trends that are expected to shape the industry in the coming year:

1. Growth of large-scale solar farms: The growth of large-scale solar farms is expected to continue in 2023, as more countries increase their investment in renewable energy. Solar farms can provide a cost-effective and scalable source of clean energy, helping to reduce reliance on fossil fuels and improve energy security.
2. Expansion of rooftop solar panels: The installation of rooftop solar panels is expected to continue to expand in 2023, particularly as more households and businesses look to reduce their energy costs and improve their environmental footprint. Rooftop solar panels can provide a cost-effective source of clean energy and can help to reduce dependence on the grid.
3. Adoption of energy storage solutions: Energy storage solutions, such as batteries, are expected to become increasingly widespread in 2023. Energy storage solutions can help to improve energy security and reduce dependence on the grid, while also enabling more effective use of renewable energy sources.
4. Growth of community solar: Community solar, which allows multiple households or businesses to share a single large-scale solar installation, is expected to continue to grow in 2023. Community solar can help to make solar energy more accessible and affordable, while also promoting community engagement and environmental awareness.
5. Expansion of off-grid solar: Off-grid solar, which provides electricity to communities and individuals that are not connected to the grid, is expected to continue to grow in 2023. Off-grid solar can help to bring electricity to remote or rural areas and support economic growth and development.
6. Increased use of smart grid technology: Smart grid technology, which allows for the intelligent management of energy supply and demand, is expected to become increasingly widespread in 2023. Smart grids can help to improve energy efficiency, reduce energy waste, and promote the integration of renewable energy sources into the grid.
7. Development of new financing models: New financing models, such as crowdfunding and micro-financing, are expected to emerge in 2023, helping to make solar energy more accessible and affordable for communities and individuals. These financing models can help to overcome the barriers to investment and support the growth of the solar energy sector.

In conclusion, 2023 is expected to be a year of growth and innovation for the solar energy sector, as more households, businesses, and countries embrace this clean and renewable source of energy. These trends are expected to help reduce dependence on fossil fuels, improve energy security, and support the transition to a more sustainable energy future.