If you’re interested in partnering with a local solar installer as a way to offer your clients additional value, while earning some extra income for yourself or your company, you’ve undoubtedly heard about the current U.S. solar boom.
In this article, we will cover predictions about solar’s growth over the next decade, as well as explain the single biggest reason behind why so many home and business owners alike are switching to solar.
Is Solar One of the Fastest Growing Industries in The U.S.?
To begin, let’s answer the question, “Is solar really one of the fastest-growing industries in the U.S.?”
The quick answer to this question is YES.
The solar power industry is seeing exponential growth, making it one of the fastest-growing industries in the U.S.
According to an article written by Forbes Magazine, the US Bureau of Labor Statistics estimates that “solar PV installer” will be the fastest-growing job between 2018 and 2028.
Due to the many benefits of solar, homeowners, business owners, industrial and commercial brands, and even utility companies are using solar as a dependable source of clean and renewable power.
To keep up with the demand, solar manufacturers, installers, as well as solar companies, are starting to open up and expand all across America.
But is it just temporary or is it going to continue to grow?
Predictions show that solar installers will continue to see an increase in demand for solar PV systems throughout the next decade, with it leveling out at a high-demand peak for the latter part of the next ten years.
Here you can see two charts from the Solar Energy Industries Association that show a steady rise in solar installations for both the residential and non-residential sectors throughout the next decade and until 2024.
Why Are So Many Homeowners Switching to Solar?
So why are so many people switching to solar?
Yes, solar panels on your roof give you a sense of well being for helping the planet and a sense of freedom for being more energy independent.
Both of these are some of the top reasons why home and business owners are switching to solar. But they are not the prominent reasons.
Behind the solar boom are two main factors:
- Continuous research to optimize solar technology and solar solutions. Today, we don’t just talk about solar panels, but we talk about solar windows, roof tiles, and even paint, which can all help improve the way we adopt and make sure of the most powerful source of energy on this planet – the sun.
- Price. Look back to the early 2000s and price was one of the major stumbling blocks of solar. The idea of solar was great but it was far from cost-effective. For that reason, and unlike a lot of technology, the solar industry has spent a vast amount of research into making solar more affordable and continues today. Prices for solar have dropped so much over the last decade that today, solar power is considered one of the two cheapest forms of electricity generation (that and wind power.) That’s why you’ll also start to see a lot of utility companies now building large solar fields, not only offering green energy to their clients but paying less than they would pay to manage and maintain a fossil fuel burning power plant.
Homeowners and also business owners are switching to solar because it’s more affordable than buying your power from the local utility.
That’s right, the reason homeowners are switching to solar is to save money on their electric bills!
One for one, the solar PV installations we design for homeowners do exactly that. They are specifically designed and calculated to reduce a homeowner’s monthly bills.
And when you factor in nationwide tax incentives, special financing programs, and the yearly increase of the utility’s electricity rates, solar becomes not only a way of saving money but a way of avoiding increased costs in the long run.
The single biggest reason behind today’s solar boom is the fact that solar is now a more affordable way to generate power. Add to that the many other benefits that it provides, including environmental protection, and energy independence, and it’s a no-brainer.