Solar Energy Statistics for 2021

The solar industry in the United States is growing larger every year as more homes and businesses adopt solar energy as their main source of power.

All of this means that more residential solar installations are appearing on home rooftops, and more utility companies are sourcing power from solar farms.

But what is the current growth in the solar market, and what does the future look like for this type of renewable energy?

Here are the solar energy statistics that you should know about in 2021.

There Are Over 3 Million Solar Installations In the United States

Solar installers in the US have been working very hard recently. 2021 has seen the United States surpass the three million installation mark, most of which are residential solar panel systems.

All this equates to a total installed capacity of a staggering 108.7 GWdc. That’s enough to provide power for a total of 18.9 million US homes.

A total of 5.7 GWdc was installed in the second quarter of 2021 alone.

Over 230.000 People Are Employed In the Solar Industry

As of 2020, there were 231,474 employed in the solar industry. There was a slight dip against the previous year’s numbers due to the pandemic, however, employment rates still appear to be strong.

Although there were slightly fewer people employed in solar in comparison to 2019, the solar industry saw a record level of capacity installed demonstrating that productivity was up.

The Cost of Installing Solar Has Dropped By 70% In a Decade

When you look back at the cost to install solar a decade ago, you’ll see a huge reduction of 70%.

The US government want more homes to invest in installing their own solar PV systems, however, if they are to meet their targets, prices will need to drop further going forward. This is because the Department of Energy wants the price of solar energy to reach as low as 5 cents per KW hour. This will be in comparison to 50 cents per KW hour back in 2010.

There has never been a better time than right now to hire a home solar company to fit solar panels on your home.

The Solar Energy Industry Is Set to Flourish

Although there is set to be a drop in the percentage rate offered by the Solar Tax Credit in any systems installed from 2023 onwards, it’s predicted that the number of installations will continue to increase in line with current rates over the coming years.

By 2030, it’s estimated that solar capacity in the US will quadruple to 419 GWdc. This will mean that more solar installers will be operating, offering greater choice to consumers.