The Future Of Commercial Solar Energy In Maryland: Trends And Predictions

Solar energy has been rising in Maryland for the past decade, and the trend is expected to continue. With the state's high electricity rates and strong renewable energy policies, Maryland is poised to become a leader in the commercial solar industry. In this article, we will examine the trends and predictions for the future of commercial solar in Maryland.

Overview of Maryland's Solar Industry:

Maryland's solar industry has been growing steadily over the past decade. According to the Solar Energy Industries Association (SEIA), Maryland ranks 16th for installed solar capacity in the nation. As of 2021, more than 240,000 solar panels were installed in Maryland, with a total capacity of 1,100 MW. In 2020 alone, Maryland added 190 MW of solar capacity, equivalent to powering 30,000 homes annually.

One of the driving factors behind Maryland's solar growth is the state's Renewable Portfolio Standard (RPS), which requires that 50% of the state's electricity come from renewable sources. The RPS has been a key driver of solar growth in Maryland, and it is expected to continue to drive solar development in the state.

Another factor driving solar growth of commercial solar in Maryland is the state's high electricity rates. According to the U.S. Energy Information Administration (EIA), Maryland has some of the country's highest electricity rates, making solar a cost-effective alternative for many businesses.

What exactly is Commercial Solar Energy?

Commercial solar energy uses solar panels to generate electricity for commercial and industrial buildings. It can include office buildings, manufacturing plants, retail stores, warehouses, and other commercial buildings.

Solar panels comprise photovoltaic (P.V.) cells that convert sunlight into direct current (D.C.) electricity. This electricity is then converted to alternating current (A.C.) electricity using an inverter, which can be used to power the building's electrical systems or sold back to the grid.

Commercial solar energy systems can be installed on the roof of the building, on the ground near the building, or as part of a community solar project where multiple buildings share a single solar installation. Many businesses also see commercial solar energy as a way to demonstrate their commitment to sustainability and corporate social responsibility.

Trends in Commercial Solar Energy in Maryland:

1.  Increased Adoption of Community Solar:

Community solar is a growing trend in Maryland's solar industry. Community solar allows multiple customers to subscribe to a single solar project and receive credits on their utility bill for the energy produced by the project. Community solar is particularly attractive for businesses that may not have the physical space or resources to install solar panels on their property.

In Maryland, community solar has been growing rapidly. According to the SEIA, Maryland had 152 MW of community solar capacity installed as of 2021, the third-highest in the country. This trend is expected to continue as more businesses and residents look for affordable and accessible ways to access solar energy.

2.  Growth in Energy Storage:

Energy storage is becoming increasingly important in the solar industry, which is expected to continue in Maryland. Energy storage allows solar energy to be stored and used when the sun is not shining. It helps to increase the reliability and resiliency of solar energy and can also help businesses reduce their reliance on the grid.

Maryland has been investing in energy storage through various programs, including the Maryland Energy Administration's Energy Storage Income Tax Credit program, which provides a tax credit for installing energy storage systems. This investment in energy storage is expected to continue as more businesses look to increase the reliability and resiliency of their solar energy systems.

3.  Advancements in Solar Technology:

Advancements in solar technology are also expected to drive growth in Maryland's solar industry. One of the most promising advancements is the development of perovskite solar cells, which are cheaper and more efficient than traditional silicon-based solar cells. Perovskite solar cells are still in development, but they can potentially revolutionize the solar industry.

Other advancements in solar technology, such as improved panel efficiency and new mounting and tracking systems, are also expected to drive growth in Maryland's solar industry. As these advancements become more widely available and affordable, more businesses will be able to adopt solar energy.

Predictions for the Future of Commercial Solar Energy in Maryland:

1.  Continued Growth in Solar Energy:

The most likely prediction for the future of commercial solar in Maryland is continued growth. As the state's RPS continues to drive solar development and as solar technology becomes more affordable and accessible, more businesses in Maryland will adopt solar energy. The SEIA predicts that Maryland will add over 3,000 MW of solar capacity by 2030, equivalent to powering over 400,000 homes annually. This growth will not only help Maryland meet its renewable energy goals, but it will also create jobs and economic opportunities in the state.

2.  Expansion of Solar Incentives:

As the demand for solar energy in Maryland continues to grow, the state will likely expand its solar incentives. Maryland already offers several incentives for solar energy, including a property tax credit, a sales tax exemption, and a grant program for commercial solar projects. These incentives have helped to make solar energy more accessible for businesses in the state.

In the future, Maryland may expand its incentives further to encourage more businesses to adopt solar energy. It could include new tax credits, rebates, or other incentives that make solar energy more affordable for businesses of all sizes.

3.  Increased Focus on Energy Storage:

As energy storage becomes more important in the solar industry, Maryland will likely increase its focus on this technology. It could include new programs to incentivize the installation of energy storage systems and investments in research and development to improve the efficiency and affordability of energy storage.

With more businesses looking to increase the reliability and resiliency of their solar energy systems, energy storage will become a key factor in adopting solar energy in Maryland. As a result, the state is likely to make significant investments in energy storage in the coming years.

Conclusion:

The future of commercial solar in Maryland is bright. With the state's high electricity rates, strong renewable energy policies, and growing demand for solar energy, Maryland is well-positioned to become a leader in the commercial solar industry. As the state continues to invest in solar energy and energy storage, more businesses will be able to adopt this clean, renewable source of energy. It will help Maryland meet its renewable energy goals and create jobs and economic opportunities in the state. Overall, the future of commercial solar energy in Maryland looks very promising.