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2015 – A Record-breaking Year for Solar Power
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Posted On :
Aug-26-2016
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Article Word Count :
490
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According to a source from GTM Research and the Solar Energy Industries Association (SEIA), “The U.S. solar industry installed 7,286 megawatts of solar power in 2015!” Also, Solar Accounted for 64% of New Electric Generating Capacity in the U.S. in Q1 2016.
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According to a source from GTM Research and the Solar Energy Industries Association (SEIA), “The U.S. solar industry installed 7,286 megawatts of solar power in 2015!” Also, Solar Accounted for 64% of New Electric Generating Capacity in the U.S. in Q1 2016.
That’s a huge number indeed!
This was an increase in over 1,000 megawatts of solar photovoltaic installations compared to 2014. The research indicate that solar beat natural gas capacity additions for the first time ever, with 29.5 percent of all new electric generating capacity met by solar power in 2015.
As the nation is making a shift toward a carbon-free source of energy, solar energy in Kansas City will continue to reach unprecedented heights within a limited time. Nowadays, solar electricity has become economically competitive with conventional energy sources in states such as California, Hawaii, Texas and Minnesota.
It is also estimated that U.S. solar market will exceed 100GW of total solar capacity by 2021.
Reason for the Surprising Growth
Solar ITC
One among the major factors that contributed to the increase in the figures last year was the impending expiration of the U.S. government's solar investment tax credit. This offered a 30% tax credit for residential and business installations and the tax credit was supposed to drop to 10%.
Falling Prices
Over the last few years, the cost involved in the installation of solar power has been dropped by more than 70% and paved way for the solar industry to expand into new markets.
Boosts Local Economy
Solar energy has been reported to generate between 3-5 million “green collar” jobs over the next decade. These jobs represent a significant contributor to the U.S. economy because they receive the highest pay and cannot be outsourced.
Great ROI
If you think purchasing a solar panel is an expense, then you are wrong! Solar panels are not an expense but an investment that pays handsome returns compared to other traditional methods. In some areas, these panels generate revenue result in ROIs of 20% or more.
Other Statistical Data to Fuel Your Mind
- The U.S. installed 7,286 megawatts of solar photovoltaic (PV) in 2015, the largest total ever and 17 percent above 2014.
- Residential was once again the fastest-growing sector, installing over 2 gigawatts for the first time and growing 66 percent over 2014.
- Non-residential solar was essentially flat for the third year in a row, installing just over 1 gigawatt.
- 7.5 GW of solar installed in 2015
- 19% growth in photovoltaic (PV) market over 2014
- Compound annual growth rate of 58% since 2010
- In Q1 2016, U.S. hit 1 million solar installations
- Will hit 2 million installs in just 2 more years
Going solar and investing in solar energy in Kansas City makes a big statement on how to choose, spend and consume your resources.
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Article Source :
http://www.articleseen.com/Article_2015 – A Record-breaking Year for Solar Power_320163.aspx
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Author Resource :
The author is an active member of American Solar Energy Society for over 20 years and has lectured frequently on solar energy, climatic change and usage of alternative sources of energy. Visit https://energyonesolar.com for more.
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Keywords :
solar energy in Kansas City, solar energy in Kansas City, Solar Energy,
Category :
Business
:
Business
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