Solar energy is affordable and easily accessible, and its usage in the United States has continued to increase over the years. But…how many homes have installed solar panels?
In 2019, more than 2 million households in the US installed solar panel systems. The Solar Energy Industries Association (SEIA) reports that solar panel installations have increased by 43% since 2019 despite the COVID 19 pandemic in 2020.
What’s more, community solar, where a community solar farm is set up and thousands of homes source power from the solar farm, is becoming more prevalent in some states in the US. The strategy is currently widespread in New York, California, Massachusetts, Minnesota and Colorado.
The US ranks 3rd in solar usage globally, with China taking the lead. In 2017, China produced 50 GW of solar power, which can power up to 8.2 million households in the US.
Over the years, the cost of solar panels has dropped by 99% since 1977. The solar energy market has grown and stabilized, and it is now economically competitive with other sources of power. This has led to a significant drop in prices from $77 per watt in 1977 to $0.21 per watt today.
Other than cutting on the cost of energy, installing solar panels boosts the value of your house. According to research by Forbes, you are likely to regain about 97% of the solar panel’s investment cost back after installation. Also, some US states exempt solar panels from property tax, which will save you a lot of money.
Solar energy usage has not reached its full potential in the United States. The government is still encouraging more households to go solar. The goal is to maximize the usage of this clean source of energy and conserve the environment because the production of solar energy is considered renewable energy. The adoption of solar energy can reduce oil mining by 75 million barrels yearly and reduce the emission of carbon dioxide by 35 tons.
Other than cutting on the cost of energy, installing solar panels boosts the value of your house. According to research by Forbes, you are likely to regain about 97% of the solar panel’s investment cost back after installation. Also, some US states exempt solar panels from property tax, which will save you a lot of money. Additionally, in other countries, like the UK, you may be entitled to free or heavily subsidized solar panels via the Energy Company Obligation (ECO) grant scheme. This scheme was launched as an effort to meet the Net Zero agreement’s of 2050 that most countries have agreed to during the Paris Accord.