The renewable energy industry continues to grow globally as we search for smarter, cleaner and more efficient ways to power the world. As technology continues to improve and the price for installation keeps decreasing, millions of Americans have already switched to solar energy. This source of electricity isn’t just a fad – the future of solar energy is bright.
The US Solar Industry
“The rapid growth in the solar industry has completely reshaped the energy conversation in this country,” said Abigail Ross Hopper, SEIA chief executive officer and president . “This $17 billion industry is on track to double again in five years, and we believe that the 2020s will be the decade that solar becomes the dominant new form of energy generation.”
Today, the 2 million residential solar power systems produce enough electricity each year to power more than 12 million homes. By 2024, it’s predicted that 2.5% of all U.S. homes will have a solar installation .
Solar by State
- North Carolina
- New Jersey
- New York
Within the next five years California, Texas, Florida, Nevada and North Carolina are expected to deploy about half of all solar panel systems in the U.S. California’s solar mandate for new construction should result in a minimum of about 80,000 new solar systems installed per year .
America had the capacity to produce about 6 GW of solar panels per year as of Q1 2019, with plans to expand to about 9 GW . The top three states for panel manufacturing, Ohio, Georgia and New York, account for nearly 60% of total US manufacturing capability .
Where We Stand Globally
As of the end of 2018, the US ranked second in solar panel installations behind China. Estimations for global solar energy growth are expected to exceed 300 GW per year by 2050, with North America responsible for about 20% of total deployment .
There has never been a better time to switch to solar energy than today. Renewable energy is the way of the future – not only are these resources cleaner and healthier, but they provide lasting price protection for families worldwide.
About Momentum Solar
Founded in 2009, we are an owner-operated company committed to delivering a first-class experience to our customers through their journey to cleaner, price-protected electricity generated by the sun.
Solar builds a better tomorrow. Visit our website momentumsolar.com or call us today at 1 (888)-MOMENTUM for your complimentary site assessment.