The Sun runs on 'cycles' that last a few years for each one. Each cycle has a direct affect on Earth's temperature. For example, if a solar cycle were well above normal, temperatures on Earth would end up slightly warmer than normal. If a solar cycle were well below normal, slightly cooler temperatures would be observed on Earth. The latter example is the scenario we are currently seeing.
If we use previous cycles to compare to this one, we see that, by this time, Cycles 21 and 22 had already reached their maximum sunspot number for that cycle. Seeing as Cycle 24 is not even close to 100 sunspots at this time, it looks like Cycle 24 will begin to drop back down in the next 6 to 8 months as other cycles have done in the following 12 months from where Cycle 24 is now.
This will have more significant impacts later on, and they will be addressed when the time comes.