2 million in 3 years: will US become the world’s solar superpower?

By
Mortgage and Lending with Olympus Labs

The United States touched two million solar installations in just three years. Leaping to replace its polluting sources of energy, the country is now solar charged. It is a colossal moment since the country took 40 years to reach its first million.

Having hit the landmark number, the US is now looking towards 4 million solar installations by 2050. This would mean that the US will have to install “one solar installation per minute” by 2024, according to Michelle Davis, Senior Analyst at Solar. But, how can they achieve this feat?

The prices of solar energy are falling by the minute . To tap this readily available resource, state mandates are encouraging the use of renewable sources of energy hence putting aside the current dependence on non-renewable sources. The shift to solar energy will be a gradual and organic one thanks to the country’s spirited entrepreneurs.

The $17 billion solar power industry is an investor’s delight and a welcome paradigm in the current environmental scenario. The solar photovoltaic installations are enough to power more than 12 million homes. Households across the United States will stand to massively benefit from these solar installations, and also from organizations like Get Green Energy that work to provide affordable fixed energy plans and energy-saving appliances. One of the top providers in Texas, Get Green Energy is an aggregator of energy providers that aims to provide homeowners with trustworthy plans but without the gimmicks and hassles that accompany them.

The US Energy Information Administration said that solar, wind, combined with other forms of energy except hydropower contribute to 11 percent of the US’ electricity generation. This endorses the optimistic shift to renewable sources of energy that will power the US. It is a much-needed move in the world’s present-day battle against climate change. California is single-handedly responsible for contributing 43% of the solar energy in the States; other states include Texas, Utah, Florida, Rhode Island, and Maryland.

The report states that solar has grown at an average rate of 50 percent over the last decade. And, what has this growth made possible? The cost of installing solar power has gone down by more than 70% - a massive decrease that can enable the setting up of more power plants and encourage citizens to slowly but surely adopt solar power in their homes!

But, what does this fall in solar power price do for you? It will “lower electric bills, create jobs, reduce pollution” among many other benefits including a brighter future of the country’s children, as stated by Adam Browning, executive director of Vote Solar.

The US hit the mark in 2019, yet, it is the third country after Australia and Japan to reach the milestone. Australia touched its million in late 2018 while Japan met the target in 2014 itself.

This growth in solar energy is changing the perspective of looking at energy conservation across the globe. Abigail Ross, the SEIA president, and CEO shares, “We believe that the 2020s will be the decade that solar becomes the dominant new form of energy generation.” The report explores the possibility of a transition to clean energy, a much-awaited development, don’t you think?

Solar energy is on its way to becoming the source to get green energy after all.

 
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David Jackson, MBA

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