Solar Industry Growth

The last couple of years have been tumultuous in numerous ways. A global pandemic has led to supply-chain interruptions and disruptions in many businesses. However, in 2020 the U.S. solar industry still had its most successful year, yet. This means that solar remains on-track to quadruple capacity by 2030.

What does this mean for consumers? Well, if you have been considering getting solar panels, now is a great time. Suppliers have products available, tax incentives are still high, and you can still get significant financial savings from the solar investment.

Perhaps even more importantly, the growing solar industry means that today’s investment could lead to plenty of benefits in the future. Most consumer solar users choose to get solar panels as a way to increase their energy independence and reduce their overall monthly energy expenses. As solar becomes more popular, people can expect to benefit from a grid that is fed, in part, by consumer-level solar power generation.

It is no wonder that people continued to add solar power to their homes and small businesses. In fact, for many people the pandemic meant a transition from a workplace to homes or their own businesses. Therefore, savings results, and the tax benefits that can come along with installing a solar system, became that much more helpful.

One of the side effects of people moving home for work is that it prompted people to begin many long-delayed home improvement projects. That probably helped propel residential solar sales, which reached record -setting highs in the second half of 2020. It was good news for the industry, because, like other industries, solar had come to an abrupt halt at the beginning of the pandemic. The fact that the industry was able to rebound and to continue to meet consumer demand has been good news for suppliers and for customers.

What may come as a surprise to some people is that this green initiative is sweeping even states that are not traditionally associated with green energy. California leads the nation in number of solar additions, but Florida and Texas are close behind it. Virginia and North Carolina are also top contenders. This means that four of the five states that have experienced the most growth in solar are also states that have traditionally depended on nonrenewable fossil fuels for much of their energy supply. That just shows how much the energy landscape is changing, reflecting growing concerns about the rising costs of fuel and the environmental impact of using nonrenewable resources.

If you are ready to take the leap to solar, NJ Solar is here to help you. Contact us today for a consultation. We can assess your energy needs and tell you how much a solar system can save you each month.