What to Expect With Solar Energy in 2020

Did you know that solar power dates back to the 19the century? Even though it was discovered centuries ago, it didn’t become an easily accessible energy source until the 1970s. Since then, solar energy continues to increase in popularity while becoming more and more accessible to homeowners around the world. Throughout the years there has been major improvements in installation, design, and efficiency of solar panels. 

If you’re looking for more information or want to install solar panels on your home or become a part of a solar community, come to the experts at Prospect Solar. We will guide you through the process and answer any questions you may have while keeping your needs and budget in mind. Our goal is to make solar energy accessible to everyone while promoting its many benefits. Below, we discuss the past, current, and future of solar energy: 

Beginning

In the 1970s, an oil shortage brought awareness to U.S. dependency on foreign energy resources. Congress then passed the Solar Energy Research, Development, and Demonstration Act of 1974, in an effort to make solar energy more available for homeowners and businesses. The federal government was committed more than ever “to make solar viable and affordable and market it to the public.” Even with this push to start using solar energy, many people did not begin using it due to the expense and appearance of solar panels. 

Current

Moving forward, the federal government was more involved with solar energy research and development, creating grants and tax incentives for those who use solar energy. Cost, efficiency, and appearance has improved solar energy and has become more of a popular source. According to Solar Energy Industries Association, “solar has had an average annual growth rate of 50 percent in the last 10 years in the United States, largely due to the Solar Investment Tax Credit enacted in 2006.” 

Installing solar has become more affordable now due to installation costs dropping over 70 percent in the last decade. Since its popularity, solar energy has expanded into many markets including, community solar and partnering with many companies such as Walmart, Apple, Target, and Amazon. 

Future

Exponential growth is expected across the country as prices continue to lower and combined solar and storage systems become increasingly viable. Installations will continue to grow across all markets. Over the next 5 years, total installed solar capacity will possibly more than double.

While it is presumed that solar installations may soar to three to four million within the next few years, Michelle Davis, senior solar analyst at Wood Mackenzie said that “according to our latest forecasts, by 2024 there will be, on average, one solar installation per minute, that’s up from one installation every 10 minutes in 2010.” Looking at the bigger picture, the U.S. Energy Information Administration says it expects renewable sources, excluding hydropower, will provide around 11% of electricity generation this year, rising to 13% in 2020. 


Prospect Solar: Professional Solar Energy Installation in Falls Church, VA

As you can see solar energy along with other renewable energy sources are becoming increasingly popular. If you want to start using solar energy contact our solar energy installation experts, they will help you determine whether or not installing solar energy is the best option for you. We provide professional and quality solar energy installation while maintaining our dedication to attaining a more sustainable environment. We can assist you with any further questions that you might have about solar energy installation, so get in touch with us!
Speak with a solar energy specialist to see if a solar panel installation is right for you. Contact us at (703) 444-2447 today!