Now that the solar power industry numbers are coming in from 2019’s performance, we’re starting to get a clearer picture of just how successful we’ve been in converting the sun’s energy into electric power.
2019 was a banner year both in terms of the total amount of solar power produced by PV panels and new solar power system installations throughout the country.
In a new report from Scientific American, solar power generation accounted for 40% of all of the new power generation capacity that was added to our national infrastructure. California led the charge with a massive uptick in new residential solar installations fueled by revised requirements for solar panels on new construction.
The Outlook for Solar in the Next Five Years
Analysts are predicting that solar power system installations in the next five years are going to double the number of installations that we’ve seen in the past ten years. This bodes well for both residential and commercial power generation efforts, as more and more US states are trying to reduce their carbon footprints and make sustainable, renewable energy a more central feature of their platforms.
There’s a ‘hidden’ benefit here for many power utilities across the country: as more and more solar power capacity is added to residential and commercial sectors, there will likely be progressively less load for ‘grid-sourced’ power to shoulder.
This means capital expense projects that were initially conceived with the point of reducing strain on power systems may actually not be as critical. Putting these projects off or nixing them all together might translate into more working capital for many power utilities—companies that are already spread thin in the wake of the recent Coronavirus outbreak.
Urban Solar’s Role in Solar Development
At Urban Solar, we are 100% committed to empowering (no pun intended) our customers with solar energy solutions that reduce their reliance on fossil fuels, drive down their electricity costs, and help to contribute to a greener, more sustainable world.
When the time comes for you to explore the solar options available to you, we hope you’ll give us a call. Why not start with a free, no-obligation energy assessment?