Big Picture

Solar’s not just growing — it’s booming. Europe and the US both had record-breaking years in 2024, pumping out more clean energy than ever. But it hasn’t been all smooth sailing — we’ve also seen price crashes, oversupply, and a few solar companies going under. At the same time, the tech’s flying ahead with new high-efficiency panels and clever ways to stick solar onto roofs, buildings, and even glass. Here’s what’s happening, without all the waffle.

Tech Trends: Solar Panels Are Getting Smarter, Tougher & Way More Efficient

1. Tandem & Perovskite Cells Are Changing the Game

The latest buzz is all about tandem cells — basically, stacking two solar layers on top of each other so they catch more sunlight.
The top layer’s made from perovskite, a fancy new material that’s cheaper and better at catching different light wavelengths.
Some of these panels are now hitting 30–34% efficiency, which is nuts when you remember regular panels top out around 22–23%.
Big hitters like LONGi (China) and Oxford PV (UK) are already building this stuff for commercial projects — so it’s not just lab tricks anymore.

2. Bifacial Panels: Double-Sided, Double Trouble

Bifacial panels are now standard for big solar farms. They grab sunlight from both sides — perfect if you’ve got reflective ground or tilt them up a bit.
You get up to 27% more energy, and that means better bang for your buck, especially on big open land.
Don’t expect to see them on your typical suburban roof though — they work best on large-scale projects where rear-side exposure and cleaning can be managed properly.

3. Old-School Silicon Still Getting Tweaks

Manufacturers are squeezing the last bits of efficiency from silicon panels, now using tech like TOPCon and HJT cells (basically better internal contacts).
Panels are hitting 600W+ output now — more juice from fewer panels, which helps cut installation costs.
These panels are also built tougher, with longer warranties and less yearly degradation.

4. Thin-Film & Other Fancy Stuff

In the US, First Solar’s pushing hard with thin-film panels made of cadmium telluride (CdTe) — lighter and more stable in heat.
Lab prototypes using CIGS, organic PV, or multi-junction cells are pushing wild efficiencies (some even cracking 40%) — but they’re still a fair way from being in your backyard.

5. Built-In Solar? Yeah, That’s a Thing Now

Building-integrated PV (BIPV) is taking off in Europe and the US. Think solar roof tiles, solar glass windows, and panels built into building facades.
Great for when you want solar but don’t want to ruin the look of your house or office.
These systems are now hitting 19–21% efficiency and are already being rolled out across new commercial builds and public projects.

Panel Durability: Built to Last

One of the knocks against perovskite was how quick it degraded. Not anymore.
In 2024, tests showed massive durability improvements – some perovskite modules lasted over 1,000 hours in rough conditions and still performed well.
Expect 25–30 year lifespans for next-gen panels, putting them on par with silicon.
Good news for anyone worried about panels falling apart before they pay for themselves.

Solar Market Trends: What’s the Scene in the EU and US?

Europe: Record Output, But Rooftop Slowdown

66 GW of new solar went in across the EU in 2024 — another record, but growth’s slowed a bit.
Why? Power prices are back down from their 2022 highs, so fewer homeowners are racing to slap panels on the roof.
Big commercial and utility-scale solar is still charging ahead though — Germany, Italy, France, and co. are putting up heaps of big projects.

Cheaper Panels, Less Investment?

Panel prices absolutely tanked — thanks to oversupply from Chinese manufacturers, modules dropped below €0.10/Watt.
Sounds great, but weirdly, total investment dropped (about €8B less than 2023) just because projects now cost so much less to build.
Still, there’s a catch — dirt-cheap midday electricity has led to negative prices in some places. So now it’s all about adding batteries and fixing up grids.

Made in Europe? Not Yet… But They’re Trying

EU wants 40% of clean energy gear made locally by 2030, but right now, nearly all panels still come from China.
A few Euro brands like Meyer Burger and Oxford PV are leading the homegrown charge, especially with perovskite tech.
Expect more solar factories to pop up if the Net-Zero Industry Act gets things moving faster.

Policy & Red Tape

EU’s gunning for 42.5% renewable energy by 2030, and solar’s front and centre.
Rooftop mandates coming in for new builds, and faster approvals for solar farms are on the cards.
But grid bottlenecks and planning delays are still dragging things out, especially in places like Spain and Poland.

USA: Utility-Scale Bonanza, Rooftop Struggles

America added 50 GW of solar in 2024, most of it utility-scale — that’s solar farms, not rooftops.
Texas alone put in 11.6 GW, leading the country in new installs.
Rooftop solar (especially in California) actually took a dive — down 32% in 2024, mostly due to new net metering rules and high interest rates.

Panel Prices Falling — But Still Pricey in the US

While global panel prices hit rock bottom, the average US price stayed at around $0.31/Watt because of tariffs and local content rules.
That said, the US still imported 48.5 GW of panels in 2024 — so supply is no longer an issue.
Residential install costs are still sitting at $2.50–$3.00/Watt, which is steep compared to Aussie numbers.

Massive Investment & Manufacturing Boom

The Inflation Reduction Act has kicked off a local manufacturing revival — US module capacity more than tripled in 2024, now over 50 GW/year.
Players like First Solar, Qcells, and Jinko are cranking out panels locally to snag tax credits.
There’s even talk of perovskite factories popping up soon — startups like Tandem PV are leading that push.

Big Solar Farms & Batteries Coming Online

Projects are getting huge — some over 800 MW — and now many come with battery storage built-in.
The feds and state governments are chucking money at grid upgrades too, trying to keep up with all the new solar capacity.

Wrap-Up: Solar’s Going Off — But There’s Work To Do

In both Europe and the US, solar is going gangbusters. Panels are cheaper, more efficient, and getting smarter.
But that growth is hitting real-world limits — grid bottlenecks, policy confusion, and the need for storage are all front and centre now.
Still, with perovskites entering the market, manufacturing ramping up, and new solar-plus-storage projects becoming the norm, we’re well into the next solar wave.
If Australia keeps watching these trends — especially the new tech and grid models — we’ll be in a good spot to keep the momentum going here too.

Want this broken down into visuals, a quick blog format, or something tailored to off-grid or Aussie rooftop markets? Happy to help — just say the word.

References (Sources)

reuters.com Reuters – Europe generated ~338 TWh from solar in 2024 (~17.6% global share), U.S. ~283 TWh (14.7%); China dominated with 41% global share.

ceramics.orgceramics.org American Ceramic Society – Perovskite tandem cell efficiency record (34.6% by LONGi, June 2024).

ceramics.org American Ceramic Society – Oxford PV ships 24.5% efficient tandem panels (Sep 2024).

perchenergy.com Perch Energy – Bifacial panels yield 3–27% more energy, extending panel lifespan.

pv-magazine.com PV Magazine – Trina Solar launches BIPV products using TOPCon cells (up to 21.9% efficiency).

perchenergy.com Perch Energy – Thin-film panel types and efficiencies (CdTe ~22% @ $0.40/W, CIGS 23.4% @ $0.60/W).

perchenergy.com Perch Energy – Organic PV ~18% efficient in lab but short lifespan (not yet commercial).

ceramics.orgceramics.org American Ceramic Society – Increasing perovskite cell durability via chemical additives and new materials (lead-tin + iodine reductant, chalcogenide perovskite).

ceramics.org American Ceramic Society – Stability milestone: 10×10 cm perovskite modules 20.3% efficient with 94% retained after 1000h (65% RH).

reuters.com Reuters – EU installed ~65.5 GW in 2024 (+4% YoY), after >50% growth in 2023; slowdown warning.

solarpowereurope.org SolarPower Europe – Top EU markets 2024: half of top-10 countries installed less than 2023 (e.g. Spain, Poland), others modest growth (~+1 GW).

reuters.com Reuters – EU residential rooftop solar down ~5 GW in 2024 (12.8 GW vs 17.8 in 2023) as energy crisis effect fades.

pv-magazine.com PV Magazine – EU cumulative solar 338 GW by end 2024; first drop in annual investment (from €63B to €55B) despite falling costs.

energy.govenergy.gov U.S. DOE (Q3 2024) – Module prices near record lows globally (~$0.10/W), U.S. avg ~$0.31/W (mid-2024), polysilicon prices below cost.

energy.gov U.S. DOE – U.S. solar module imports rebounded to 48.5 GW_dc in first 9 months of 2024 (supply glut).

seia.org SEIA/WoodMac – U.S. installed ~49.99 GW_dc in 2024 (+21% YoY), record year; solar = 66% of new electric capacity.

seia.org SEIA/WoodMac – Utility-scale segment installed 41.4 GW_dc in 2024 (+33% YoY, record), over 25% of it in Texas.

seia.org SEIA/WoodMac – U.S. residential solar 4.71 GW_dc in 2024 (−32% YoY), impacted by high interest, company bankruptcies, CA net metering change.

seia.org SEIA/WoodMac – U.S. commercial solar 2.12 GW in 2024 (+8% YoY, record); community solar 1.745 GW (+35% YoY).

energy.gov U.S. DOE – Third-party ownership of residential PV rose in 2024 due to high interest rates (leases more attractive).

seia.org SEIA/WoodMac – U.S. domestic module manufacturing capacity grew from 14.5 GW to 42.1 GW in 2024 (+190% YoY), topping 50 GW in early 2025.

reuters.com Reuters – Major solar firm SunPower (40-year-old) went bankrupt in Aug 2024; many solar stocks saw sharp declines in 2024.

strategicenergy.eu Strategic Energy (Enerdatics data) – Q1 2024: U.S. M&A transaction value was 30% higher than Europe’s, driven by mega-deals in solar/wind.

totalenergies.comtotalenergies.com TotalEnergies – TotalEnergies acquired VSB Group (500 MW built, 15 GW pipeline in EU) in 2024, expanding its solar/wind portfolio.

pv-magazine.compv-magazine.com PV Magazine – Europe’s largest solar farm (605 MW in Germany) inaugurated in 2024 on a former coal mine, under PPA with Shell.