What is the path the Solar eclipse will cross for 2024?
A total solar eclipse crosses North America on April 8, 2024, with parts of 15 U.S. states within the path of totality. The total eclipse will first appear along Mexico’s Pacific Coast at around 11:07 a.m. PDT, then travels across a swath of the U.S., from Texas to Maine, and into Canada.
About 31.6 million people live in the path of totality, the area where the moon will fully block out the sun, according to NASA. The path will range between 108 and 122 miles wide. An additional 150 million people live within 200 miles of the path of totality.
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What is Solar Photovoltaic (PV) and its capacity growth?
Solar eclipses offer a spectacular sight as the moon passes between the Earth and sun, temporarily blotting out our main star. While eclipses only last a brief period, solar power harnesses the sun’s energy in a continuous way. Solar photovoltaic panels use materials like silicon to convert sunlight directly into electricity via the photovoltaic effect.
According to International Renewable Energy Agency (IRENA), solar photovoltaic power accounted for almost all the increase in solar power in 2023, with an increase in solar PV of 345.5 GW and an increase of 0.3 GW in concentrated solar power. Expansion in Asia was 237.7 GW in 2023 (compared to +110.7 GW in 2022). 91.2% of the expansion occurred in China (+216.9 GW) and India (+9.7 GW). Outside Asia, the United States added 24.8 GW of solar capacity in 2023, Germany and Brazil added 14.3 GW and 11.9 GW respectively.
Picture from IRENA
What is Energy Storage System(ESS) and its market size?
The growing use of solar panels substantially increases renewable energy generation through photovoltaics. However, as solar power output depends on daylight hours, energy storage systems are important to maximize its benefits. By capturing energy from solar arrays, batteries and other energy storage systems allow power to be stored for later use even when the sun isn’t shining. As energy storage system technologies continue improving, they play a vital role in complementing solar power by providing renewable electricity to meet around-the-clock energy demands for homes and the electric grid.
According to Verified Market Reports, Energy Storage Systems (ESS) Market size was valued at USD 46.47 Billion in 2023 and is expected to reach USD 114.7 Billion by the end of 2030 with a CAGR of 13.79% During the Forecast Period 2024-2030. The market for energy storage systems (ESS) is expanding quickly as it adjusts to the shifting dynamics of the world energy scene. The ESS market is now showing trends that emphasize boosting grid resilience, increasing energy efficiency, and allowing for the growing penetration of renewable energy sources.
How PayInOne Help Clients Achieve Success in PV and ESS Industries
PayInOne is an expert in global hiring and employee management platform, PayInOne is here to offer you a more favorable, compliant, and innovative solution. With us, you can concentrate on your business operations, while entrusting us with local compliance, remote collaboration, salary payments, and the maintenance of the human resource system.
As the solar and energy storage industries continue their rapid global growth, many clients are looking to expand their operations internationally. However, navigating compliance and payroll in new markets can be a significant challenge without local expertise.
This is where PayInOne provides tremendous value for PV and ESS companies. Through its employer of record and global HR platform, PayInOne allows clients to onboard employees worldwide quickly and compliantly without having to establish local entities in each country first. With PayInOne managing all payroll, benefits, and compliance activities remotely, clients can focus solely on growing their business without the hurdles of setting up infrastructure in new locations. The customizable PayInOne solution gives PV and ESS industry leaders the flexibility to scale across borders seamlessly and support their success in international expansion.
