US Solar Power Industry Set For Massive Growth In Next 5 Years

  • 5 years ago
By any objective standards, the state of the U.S. solar industry today can be described as vibrant and robust. Due to rapidly expanding environmental awareness by individuals and government, and the continual and dramatic declines in the cost of solar installations, the solar industry has witnessed rapid and steady growth for over a decade. And all reliable indicators forecast an unprecedented boom in the solar industry through and most likely beyond 2024.

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However, the battle being waged by utility companies, who are doing what they can to slow the progression of the solar industry, is a losing one for them. More and more people are taking notice of the great financial benefits of going solar. All evidence points to the solar industry continuing to thrive in spite of weaker incentives from the utility companies.

Even given the anemic cooperation of the utility companies, the U.S. solar movement is poised for enormous future growth. Federal and state governments are actively doing their part to encourage solar energy expansion, and technological advancements like the perovskite cell, promise to bring the cost of solar to new record lows. The beauty in renewables like solar, in addition to their net-zero environmental impact, is that they are a continual, unending energy source capable of sustaining U.S. energy needs indefinitely. A plurality of Americans is aware of solar’s benefits, both financial and environmental, and will provide the impetus for unparalleled commitment to future U.S. solar energy investment.

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