In recent years there has been a significant increase in the use of Solar Energy as a means of generating electricity. The hot debate topic of renewable energy sources has created a significant amount of awareness as to the use of Solar as an energy source. With technological advances allowing for more efficient solar panels, as well as the cost to purchase and install solar has significantly gone down, it is becoming more and more of a great energy option. The residential solar market has seen the largest increase in usage, where the commercial market is extremely volatile. As we take a look back at the numbers for the 2014 solar market, it can be estimated that the trend is going to continue going up.
2014 At a Glance
- Solar was 74% of new energy capacity in the US
- The residential sector grew 171% from 1st quarter 2013 to 1st quarter 2014
- Solar installations grew 41% in 3rd quarter 2013 over 3rd quarter 2014
- Residential installations surpassed non-residential installations
What Does This Mean
As the numbers for 2014 get put into perspective this means that the solar industry is going to grow as a whole. With the Solar industry growing this means a few things:
- Growth in solar related investments
- Growth in solar industry jobs
- More environmentally friendly energy sources
- Less reliance on foreign petroleum supplies
Solar Investment Growth
The growth in solar investments is not only great for the solar industry, but it is great for the economy as a whole. The investment in solar energy is truly an investment in US jobs. This means that with more money going into the solar industry there is a growth in that industry. When an industry grows, this inevitably means there are more jobs that need to get done.
The growth in solar industry jobs are jobs that come in the form of installers, panel manufacturers, as well as environmental engineers. The promising note to make from these jobs is they are highly skilled positions, which makes them more likely to stay in America. Also, if there is an influx in the demand for solar jobs there will become more investment in the education and research associated with those jobs, which allows the industry to continue to grow.
As America becomes more mindful of its impact on the environment there is a social desire to create renewable energy sources. Solar will fill this void with a growing industry that becomes attractive to investors, as well as job seekers. The movement to solar is also one that is sustainable, because inherently in the nature of solar energy there is sustainability. This means that solar does not have a finite amount, such as oil, therefore there is not an issue running out.
The reliance on foreign oil has been debated wildly in recent years, and by investing in solar energy this debate becomes less of an issue. The ability of America to produce its own energy in a sustainable manner is something most can agree on. Solar allows each American to produce the energy they need to function in their home and to do so in a renewable and sustainable fashion.