Clean, reliable and increasingly affordable source of power- solar energy is on a continuous rise in the
U.S. paving its way in both domestic and commercial market with an annual growth rate of 54%.
The major solar installations comprise of small-scale solar photovoltaic (PV) systems installed on rooftops. The cost of installing such PV systems has dropped down by 70% since 2010 resulting in the boom in the solar energy sector. The prices in Q2 2018 are nearly at their lowest historical level in the market. The price of an average residential solar panel system has reduced from $40,000 in 2010 to about $17,000 as of now.
Solar projects are generating more electricity per watt of the installed capacity. This is suggested by the 33% increase in Q1 2018 generation which is more than the 25%year-over-year increase in capacity. In its release of the UD Department of Energy (DOE) Energy Information Administration (EIA), ElectricPower Monthly Update shows solar power generation as 33% in Q1 of 2018 over Q1 2017. The solar generation grew from 1.8% to 1.4% of Q1 2017 in total electricity generation.
In the US California dominates the solar market while Minnesota, Texas, South Carolina and Florida are continuing to expand in the area.
Above statistics is proof enough that the world is changing, and such change will happen over time. A shift from dirty fossil fuels and toward cleaner, renewable sources of power, is possible, but not without YOU. Go solar and save your environment for the better future, for your children. Click here to know how.