According to the U.S. Department of Energy, solar power has more potential for electricity production in the U.S. than any other renewable energy source.
Every hour and a half, enough sunlight reaches the earth’s surface to meet the world’s energy needs for an entire year. The U.S. has enough renewable energy resources to generate 100 times the country’s electricity needs annually.
About 3.4% of the electricity generated in the U.S. is powered by solar energy, up from 2.8% in 2021. Solar accounted for 15.9% of electricity generated by renewable sources in 2022, up from 13.5% in 2021. Solar panels act like tiny power plants, converting sunlight into electricity through a process called the photovoltaic effect. This captured energy can then be used to power homes, businesses, and even entire communities.
Forty-five percent of the capacity added to the U.S. electrical grid in the first half of 2023 was from solar. Solar is set to account for 67% of the growth in renewable energy capacity in 2023. New solar additions broke another record in 2023 with a nearly 200-gigawatt increase.
Although solar has become more expensive in 2022 and 2023, the cost of non-renewable sources of energy like oil, natural gas, and coal have increased even more rapidly. The Inflation Reduction Act (IRA), passed in August 2022, further incentivizes solar installations. Experts expect to see a 40% increase in solar installations between 2023 and 2027 because of the IRA.
What does this mean for you? The potential of solar energy is undeniable. It’s a clean, renewable resource that doesn’t pollute the air or contribute to climate change. Plus, with advancements in technology, solar power is becoming increasingly cost-effective. The sun’s energy is a gift waiting to be harnessed. Let’s work together to turn this potential into a reality and power your world with clean, abundant sunshine. Begin your solar journey today by contacting us for a FREE consultation.
