The Bright Future of Solar Energy in the US

In 2020, the US solar market reached a milestone: 25 GW of installed capacity. This means that 25 billion watts of electricity can be generated by solar power, enough to power at least 5 million homes. So, what lies ahead for the future of solar energy in America? What can we expect in the coming years? 

State-by-State Expansion 

The majority of residential and commercial solar growth is expected to take place in states with existing policies or programs that incentivize its installation. California, Connecticut, Massachusetts, New Jersey, and New York were expected to have some of the highest levels of growth in 2021. In California alone, more than 4 GW (gigawatts) of new PV systems are projected to be installed this year—enough to power more than 800,000 homes! This will make California the leading state for solar energy production by far. 

Cost Reduction 

As more homeowners opt for rooftop solar panels and businesses look to cut down their energy costs with larger-scale projects on rooftops and land parcels, we can also expect a decrease in costs associated with these types of installations. Major players like Tesla, along with others, are driving down prices through competitive bidding processes as well as technological advancements. According to Solar Industry Magazine’s 2020 State Solar Index Report, the average cost for a residential system has decreased from $4/watt (in 2010) to less than $3/watt today—a 25% reduction over 10 years! 

Job Creation 

The US Bureau of Labor Statistics estimates that there were almost 270,000 jobs related to solar energy in 2019 – a 15% increase from 2018. As more people invest in residential systems, and businesses invest in larger-scale projects as mentioned above, we can only expect job growth within this sector to continue growing. Additionally, many states have specific goals set out when it comes to renewable energy sources like solar—this means more jobs available for those who specialize in installation and maintenance! 

Solar energy is quickly becoming one of America’s most popular sources of renewable energy due to its cost-effectiveness and environmental sustainability benefits. As more states implement incentives that make it easier for both homeowners and businesses to install rooftop systems or larger-scale projects respectively, we can expect an increase not only in installations but also in employment opportunities related to this sector as well. It’s safe to say that the future looks bright for solar energy here in the US!