In 2013, it was reported that a new solar installation was completed about every four minutes. In 2014, the number of solar systems installed increased significantly, meaning a new system went online every 2.5 minutes.
That’s $15 billion in solar investment!
The greatest growth was in residential solar, where 200,000 homes across the US slapped panels on the roof. That’s up from 50,000 in 2011; four fold in the last three years.
“Residential solar is the fastest-growing — and potentially the most transformative — sector of the solar market,” said Shayle Kann, senior VP of GTM Research.
“It’s not just oil and natural gas production that’s booming; we’re becoming a global leader in solar, too. Every four minutes, another American home or business goes solar; every panel [is] pounded into place by a worker whose job can’t be outsourced,” said president Obama in his 2014 state of the union. Maybe in his state of the union here in a few days, he’ll be updating that number.
It’s expected that the US will install 900,000 cumulative installations across the country this year and exceed a million next year. And it makes sense. More and more people are realizing how great it is to get off the grid. I know I’d rather spend a few grand right now and not have to pay a utility bill anymore.
If you could get a solar system installed on your home, would you do it?
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