It seems like everywhere you look, people are going solar. From massive corporations like Google and Amazon, to homeowners wanting to increase their savings, going solar has never been more popular. But this isn’t just a passing trend- like the car and the computer, solar panels are changing the way that we look at technology, and they’re here to stay.
Back in the early 2000’s, going solar was something only millionaires could afford to do. But in less than 20 years, that’s completely changed. In 2000, the average cost per watt for a solar panel was around $10. Today, its decreased to $2-3. On top of that, the efficiency of solar panels has gone through the roof as well. In 2012, the highest efficiency was 17.8%. Then just 5 years later in 2017, scientists developed a prototype solar cell that could reach 44.5% efficiency. And with all the interest in clean energy like solar power, many states, local governments, and even utility companies offer financial incentives designed to help people install solar energy systems.
The growing trend of people going solar is having a pretty significant impact on the overall electrical generation for the U.S., too. In 2010, renewable energy accounted for less than 5% of the electrical generation for the nation. Now, less than ten years later, it’s nearly 15%. And utility-scale solar generation alone is expected to grow by another 17% in 2020. Many utility companies who traditionally used fossil fuels are switching over to clean, renewable energy because of the big financial savings they bring. And it’s not just the U.S. where renewable industries like the solar industry is booming. A report by Bloomberg states that by 2050, it’s estimated that 50% of all the electricity generated in the world will come from renewable energy sources such as solar energy.
The U.S. will be generating its fair share of that 50%. 37 states currently have renewable portfolio standards or goals for its utility companies to meet. 38 states have net metering, or similar programs. And it’s projected that by 2025, state standards will support 103 gigawatts of renewable energy. That’s a significant amount of energy that will be generated not by fossil fuels, but by renewable solar energy. And by going solar, homeowners will be able to save money and lower their electric bill, rather than worry about rising electricity rates due to the increasing cost of fossil fuels.
It’s clear that choosing to go solar is a great investment for home and business owners alike. If you’d like to learn more about switching to green, clean solar power, contact us at Sunpro Solar today! We will handle your solar installation from start to finish, making it simple and stress-free for you.