2020 Will Be A Record Year For Solar

The Energy Information Administration (EIA) is predicting a stellar year for solar power in 2020.

A total of 24 Gigawatts of solar is expected to come online by the end of the year, according to the US Department of Energy’s EIA. This is impressively 60 percent more than 2016’s record year (15 GW). While the majority of this new solar capacity is at the utility scale (17.4 GW), 6.6 GW of small scale solar is nothing to scoff at!

It’s also worth noting that a significant amount of wind power will be installed by the end of the year as well. The EIA is predicting about 18 GW.

US Energy Information Administration

This momentum is expected to carry over to next year with an estimated 26 GW of new solar capacity for 2021.

The renewable energy tax credit has certainly had significant effects on the solar industry. More specifically, it helped nudge the industry to that record year in 2016 and also conversely we saw a slow down after that year as many had already utilized the credit. The credit is 26 percent this year and gets lowered to 22 percent next year, which is the last year for the credit to be utilized at the residential level. This will certainly help keep the residential solar industry strong, especially next year as homeowners look to take advantage of the credit before it disappears.

Unsurprisingly, this impressive upcoming renewable energy boom coincides with a decline in new fossil fuel expansion. Wind and solar power continue to lessen our need and reliance on dirty fossil fuels.

Just as important as an increase in the capacity of renewable energy is, the further use of energy storage is vital as well. The good news is that energy storage applications are expected to be deployed at all scales in significant volumes in the coming years.

While some may see the tax credit as being central to the rise in solar power usage, its actually a smaller part of the big picture. The big picture is that the cost of solar is, and has been for some years, very favorable compared with conventional energy. Costs have continued to fall, albeit more slowly, as they begin to level off. Further decreases in the cost of energy storage will have many homeowners, businesses, and power companies fully embracing solar plus storage solutions in the coming years!

It’s exciting times for fans of renewable energy!

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11 Responses to 2020 Will Be A Record Year For Solar

  1. Mercury Reborn says:

    In conclusion, the year 2020 is expected to be a groundbreaking year for solar energy. With the increasing global awareness of climate change and the growing demand for renewable energy sources, solar power is set to reach new heights. The advancements in technology, decreasing costs, and favorable government policies have created a perfect environment for the solar industry to thrive. As more individuals, businesses, and governments embrace solar energy, it is evident that 2020 will be a record year for solar, marking a significant milestone in the transition towards a sustainable future.

  2. pink c says:

    In conclusion, the year 2020 has proven to be a remarkable year for the solar industry. Despite the challenges posed by the global pandemic, solar energy has experienced significant growth and is poised to achieve record-breaking numbers. The increasing demand for clean and renewable energy sources, coupled with favorable government policies and declining costs, has contributed to this remarkable success. As we move forward, it is evident that solar power will continue to play a crucial role in our transition towards a sustainable future.

  3. Star Sword says:

    In conclusion, the year 2020 has proven to be a remarkable year for the solar industry. Despite the challenges posed by the global pandemic, solar energy has witnessed significant growth and is on track to achieve record-breaking installations and investments. The increasing awareness about renewable energy, coupled with favorable government policies and declining costs, has propelled the solar sector to new heights. This trend not only signifies the growing popularity and acceptance of solar power but also highlights its crucial role in transitioning towards a sustainable and clean energy future. As we move forward, it is expected that solar energy will continue to thrive and play a vital role in meeting the world’s energy needs while reducing carbon emissions.

  4. Contrary Mary says:

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  5. abyss tamer says:

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  6. Third Moon says:

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  7. bleach says:

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  8. Trick Baron says:

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  9. troubadour says:

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  10. Sly Silvermoon says:

    In conclusion, the year 2020 has proven to be a remarkable year for the solar industry. Despite the challenges posed by the global pandemic, solar energy has experienced significant growth and is on track to achieve record-breaking installations. This surge in solar adoption can be attributed to various factors such as declining costs, increased government support, and growing environmental awareness. As we move forward, it is evident that solar energy will continue to play a crucial role in our transition towards a more sustainable and clean energy future.

  11. Muzish says:

    In conclusion, the year 2020 has proven to be a remarkable year for the solar industry. With increasing awareness about renewable energy and the growing need for sustainable solutions, solar power has emerged as a frontrunner. The advancements in technology, decreasing costs, and supportive government policies have all contributed to the record-breaking growth of solar installations. As we move forward, it is expected that solar energy will continue to thrive and play a pivotal role in meeting the world’s energy demands while combating climate change.

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