As of mid 2024, there are now more than 5 million solar installations in the U.S. and that number is projected to double by 2030. It took 50 years to get to 5 million installations and it will only take another 5 years to get to 10 million.
Here are some key statistics of the American solar power industry to date and a few forecasts for the future;*
- After the doubling by 2030, the industry will be triple its current size by 2034
- Solar will be responsible for powering more than 100 million homes by 2034
- More than 250,000 jobs have been created by the solar industry
- About 7 percent of homes in the U.S. have solar. It will be 15 percent by 2030
- More than 32 million homes are now powered by solar
- By 2050, solar power will be the primary source of electricity for the U.S.
As can as easily be seen from those statistics, the United States is in the middle of an incredible solar power boom! In the past ten years, especially the past 5, we have seen a quite remarkable acceleration in the adoption of solar power across all industries.
What is driving this amazing explosion in the size of the solar industry? It’s simple. Basic economics; solar power is now cheaper than other forms of energy. Word is continuing to spread that going solar is the best way to save the most amount of money.
There are certainly those that still think it is not quite the right time to go solar. Definitely not the case! First of all, this massive acceleration of solar adoption would not be happening if it did not make great financial sense. Also, we have hit the floor for the price of solar panels. The other primary factor in solar costs concern the variations among installers. The only way to make sure you are getting the best pricing is to work with the right installation company. The sooner you go solar the sooner you can advantage of savings.
It truly is an exciting time for American solar power. All forecasts show that the industry will continue to speed ahead at an incredible pace. Smart homeowners will continue to take part in this bright future for us all!
*figures acquired from SEIA.org
