The solar energy sector is shining bright in the United States as it hits a new milestone with over 5 million solar installations nationwide. This marks a significant increase since 2016 when the count stood at 1 million installations. According to a report from the Spectrum News, more than half of these installations have been added since 2020, indicating a robust growth in the industry.
Abigail Ross Hopper, CEO of the Solar Energy Industries Association (SEIA), stated, "Today, 7% of homes in America have solar, and this number will quickly to grow over 15% of U.S. homes by 2030." This sentiment reflects the accelerating trend toward embracing renewable energy sources across the nation. The aggressive push for renewables is evident from the Biden administration's ambitious goals, targeting 80% renewable energy generation by 2030, and a full switch to 100% renewables by 2035. As per a statement obtained by Spectrum News, the Department of the Interior has already surpassed an immediate goal by permitting more than 29 gigawatts of renewable energy, sufficient to power more than 12 million homes.
The surge in solar installations can be largely attributed to incentives such as the 30% tax credit that homeowners can leverage for their solar installations, a provision of the Inflation Reduction Act that came into effect back in 2022, as highlighted by Spectrum News. Evidence of the impact of this policy is that 25% of the nation's solar installations have come online in the latter 20 months since the act's inception.
Energy independence is becoming a reality for many Americans, exemplified by states like Texas, which has added thousands of solar jobs and injected nearly $28 billion into its economy through the solar industry. Texas is now harnessing enough solar power to run 2.6 million homes every year, as per an interview by KENS 5 with SEIA's CEO. Abigal Ross Hopper told KENS 5, "Texas is a huge player in the solar market... The prices have come down dramatically in the last few years."
With a promising forecast of doubling the current number of installations by 2030 and tripling by 2034, solar energy is set to play a pivotal role in the U.S. energy landscape. Though California continues to lead with 2 million installations, states like Illinois and Florida are catching up swiftly, riding the wave of this solar boom, according to figures cited by the SEIA and reported by Spectrum News.
