In the dynamic universe of sustainable energy, solar panels have taken center stage as a linchpin for reducing carbon footprints and promoting sustainable living. As the solar panel installation industry continues to bloom, we find it critical to sift through the data and present a comprehensive understanding of key industry findings and illuminate essential insights.

Understanding the revolution at hand requires a deep dive into the fundamentals. Solar panels, or photovoltaic (PV) systems, convert sunlight into electricity, a process known as the photovoltaic effect. Sir Albert Einstein was awarded the Nobel Prize in Physics in 1921 for his elucidation of this phenomenon, thus laying the groundwork for this renewable energy source.

Now, let's navigate the tumultuous seas of the solar panel installation industry. Emerging from humble beginnings in the mid-20th century, the solar industry has grown exponentially, with the number of solar panel installations in the United States alone surpassing two million in 2019, according to the Solar Energy Industries Association (SEIA).

Geographically, solar energy consumption and installation are not evenly distributed globally. Sun-drenched regions like California, Arizona, and Nevada in the U.S, and countries like China, India, and Australia are leading the way. However, solar panel installations are not solely dictated by sunlight availability. Factors such as government policies, financial incentives, socio-economic conditions, and public awareness about climate change also play significant roles.

The temporal aspect of solar panel installations is a topic of interest as well. The industry has witnessed a phenomenal growth rate, in no small part due to the plummeting costs of solar panels. According to the International Renewable Energy Agency (IRENA), the cost of installing solar panels has dropped by more than 70% in the last decade. This cost reduction, coupled with increased efficiency, has made solar panel installations an attractive investment for both residential and commercial consumers.

So, how exactly are these solar panels installed and what are the associated tradeoffs? The installation process begins with a site assessment to determine the most efficient configuration for panel placement. Depending on the location, panels can be installed on roofs, as ground mounts or even as solar carports. The primary tradeoff here is between optimal energy production and spatial constraints or aesthetic considerations. Moreover, the initial installation costs can be prohibitive for many consumers, despite the long-term financial benefits.

Now, for the existential question: why the sudden surge in solar panel installations? The answer lies in a confluence of factors. Climate change awareness, policy incentives, decreasing costs, and technological advancements are propelling the industry forward. Furthermore, the implementation of net metering policies, where consumers are credited for the surplus electricity they generate and feed back into the grid, provides an additional financial incentive.

The future of the solar panel installation industry appears luminous, with projections indicating that solar power could become the world's largest source of electricity by 2050, as per the International Energy Agency. However, it is crucial to remember that the industry is not without its challenges. Issues surrounding manufacturing waste, recycling, and the intermittent nature of solar energy are all hurdles that must be addressed.

One might speculate on the potential impacts of new technologies such as perovskite solar cells, which promise higher efficiencies and lower production costs than current silicon-based panels. However, it is important to note that this is purely speculative as these technologies are still in their nascent stages.

In conclusion, the solar panel installation industry is a vibrant, rapidly evolving sector, driven by technological breakthroughs, economic factors, and societal awareness. As this trend continues, it is imperative to keep a watchful eye on the industry's progress and challenges, and to remain proactive in addressing them. In the words of theoretical physicist and Nobel laureate Richard Feynman, "What I cannot create, I do not understand." As we strive to harness the power of the sun, let's endeavor to understand it, create it, and utilize it responsibly.