Solar energy is fast becoming one of the major sources of renewable energy. USA Clean Energy Association discusses what the future look like in terms of solar power.

Currently, solar energy in the United States is one of the fastest-growing energy sources, with over 40% of new energy being generated in this way. With the rise of more solar energy farms, improved technology, and more households installing solar panels, this number is likely to quadruple in the next 10 years.

Advances in Technology

The capability of solar energy is likely to increase over the next 30 years thanks to advances in technology in this sector. Focusing on photovoltaics (PV) and further concentrating solar power could result in solar power being responsible for over 45% of the United States’ electricity needs by 2050.

Not only that but as time goes by, the technology used to enhance our production of solar energy is rapidly decreasing in cost, meaning that it is much more accessible and able to be utilized in many more sectors.

More Households with Solar Panels

As this technology becomes more accessible, more and more households are choosing to install solar panels on their roofs, and a lot of new-build properties are incorporating solar power from the get-go.

Although most of the energy produced in the United States is currently from utility companies, this could change as more households decide to take up solar panels. Governments and energy companies around the world are also subsidizing home solar panel installation, removing or reducing the cost for homeowners and making solar power more accessible.

This could lead to more households becoming self-sufficient in terms of their energy needs, reducing household energy bills and reliance on fossil fuels. With more households opting to implement solar panels, these can then be integrated and coordinated with heating and air condition systems, electric vehicle charging, and energy storage.

Solar Energy from Space

One of the major limitations currently when it comes to solar power is that it is not a consistent source of energy, especially during lengthy storms and evenings.

Researchers are looking into ways to bypass this by collecting solar power from space using solar reflectors installed on satellites and potentially delivering it down to Earth via a series of antennae.

Not only will this lead to consistent energy generation but could provide more of it. Solar power in space is much stronger than on Earth and could provide up to 40 times as much energy as solar panels based on the ground.

Sunlight as a Liquid Fuel

One of the main stumbling blocks with solar energy is the fact that it cannot be harnessed as a liquid fuel in the same way fossil fuels can. Scientists are currently looking into ways in which they can create liquid solar energy by taking inspiration from plants, which can photosynthesize sunlight into liquid fuel.

This would allow for solar power to be used as gas for cars, and provide another way to store solar energy other than in battery cells, changing the way we use renewable energy sources.

Want to know where one of the fastest-growing sources of energy comes from?

Just look up.

It’s not just an interest in green energy that has spurred huge growth in the solar industry. Solar energy, the most abundant energy resource on the planet, has ramped up production and costs are lowering as a result.

USA Clean Energy Association explains that while just around 3% of electricity in the U.S. comes from solar power, over 22 million solar panels were added to American homes in 2022. The solar industry’s size jumped an average of 21% every year between 2018 and 2023. The market share is now a whopping $21 billion.

It’s always been more efficient than other traditional energy sources, but now that solar is more affordable and the drive to protect the planet becoming more hastened, the popularity of solar energy may be here to stay.

Solar Growth Spurt

The rise of solar energy is in line with a greater push and interest in renewable electricity worldwide.
This fact, paired with government policies and global climate goals, has made solar power one of the fastest-growing forms of energy since wind power. New installations of renewable technologies are at an all-time high.

All told, the capacity for renewable electricity, in part created by solar power, is expected to grow over 60% by 2026.

Many barriers to renewable energy have been removed, but further acceleration by governments means renewables will just keep growing. Easier grid integration and permitting, as well as higher tax breaks for solar energy use, will only make the industry go faster.

What’s Cost Got to Do with It

News related to the solar industry’s affordability is positive. In the past 10 years, prices for residential installation have fallen 64%.

That’s a big drop, but still not enough to lead to a fuller integration of the energy alternative. A standard but complete solar system still runs around $20,000.

Part of the affordability solution involves creating more jobs related to the solar industry. There has been significant growth there, too. Around 4.3 million jobs were linked to the solar industry in 2021.

More manufacturing generally leads to lower initial costs to companies behind the work — and that means eventually lower costs to consumers.

The U.S. Department of Energy promoted the SunShot initiative in 2011 as a way to make solar energy a more viable option compared to other common sources of electricity.

The permitting process has been refined by the federal government’s Solar Technologies Office, which also invested millions in the effort to improve systems of manufacture and solar technology as well.

There are also a larger number of affordable financing options tied to solar power, helping consumers feel better about installing solar panels and making it easier to take out loans for assistance.

Many states now offer solar power-specific loans as well. Property-assessed clean energy (PACE) loans let owners repay a loan that can be repaid as an additional line item during tax season. That makes the transition to solar an even easier pill to swallow.

It’s a major turning point, one that may set the tone for clean energy use for decades to come.

In late March 2023, for the first time ever, USA Clean Energy Association reports that new energy technology investment hit more than $1 trillion over one year. That means the same amount of money is being invested into solar energy, wind energy, and electric vehicles as investments in old-school fossil fuels.

It may not be enough of a change to call using clean energy the new normal, but it means a path is there. That’s especially important since many experts expect the fossil fuel supply — including oil, coal, and natural gas — will be depleted sometime this century.

Much of the sharp rise in investment can be attributed to the popular and widening availability of electric vehicles, but 2022 was a banner year for solar energy as well. About 700 terawatt hours of solar and wind power were generated around the world that year.

Many countries are on board. In India, the use of wind and solar energy increased by 17% between 2021 and 2022. China aims to use 33% more renewable energy by 2025.

Being green is great, but it’s not the only benefit of turning to renewables like solar energy.

Solar Energy and Job Creation

In general, renewable technologies are less expensive than traditional energy sources, but they also create more jobs and are poised to do so in the future.

After President Joe Biden signed the Inflation Reduction Act, it took just six months to see companies committing to, at the low end, $64 billion in brand-new investments within over 100 clean energy projects.

Those projects are expected to create over 50,000 jobs, according to reports tracking job opportunities tied to clean energy investments. Five months after the bill was signed into law, clean energy projects created 9,500 jobs in 15 states just in the month of February.

From Texas to Tennessee and Virginia, massive solar operations are being built to create clean electricity. In 2021 alone, the solar energy sector included 4.3 million jobs.

It’s just the latest in an upward trend in job creation tied to the solar industry. There was a nearly 25% growth seen in the solar industry between fall 2015 and fall 2016, equating to about 51,000 new jobs.

While the economy was relatively slow, solar energy grew 20% faster annually over three years. Over the past 13 years, employment in the solar energy industry grew 178%.

Many Jobs Under the Sun

Part of the power solar energy has within job creation is the variety of jobs that come from serious investments. Individuals save hundreds in utility bills each month by installing solar panels and some companies even let people sell their panels’ excess energy.

The number of installation technicians has risen significantly, but there are more jobs where that came from. Solar energy requires maintenance and manufacturers. Year after year, the industry is being seen as a steadfast engine for creating new jobs.

Consider this: In 2021, almost every single state saw a staggering increase related to the solar energy industry. In 47 states, interest in the energy source grew for consumers, utility companies, and businesses. California alone already has over 60,000 jobs tied to solar energy.

As the world moves towards a greener future, investing in the solar industry not only creates jobs but also helps to reduce carbon emissions and combat climate change. The industry is constantly expanding, rapidly creating new employment opportunities around the world, creating a sustainable future for all.

As the dreaded year of 2020 began, the United Kingdom relied on renewable energy with an all-new vigor. For the first time, the power created by clean energy projects eclipsed fossil fuels in the region, ensuring almost 50% of Britain’s lights were kept on with renewable sources. And analysts are saying that it could be their ticket to economic recovery.

According to USA Clean Energy Association, economists and environmentalists, businesses that were harnessing energy from the wind, sea, and sun were skyrocketing the UK’s economy by enticing billions in investments and producing thousands of jobs in the sector.

The Clean Energy Sector Has Proved This in The Past

Following the 2009 financial crisis, the United Kingdom’s clean energy sector proved what a benefit it could be to the economy. The Confederation of British Industry (CBI) figured out that the green field contributed to one-third of Britain’s economic growth between 2010 and 2011.

The region’s typical economic engines (i.e., financial services firms and banks) kept floundering, leaving the GDP growth stuck below 1%. But the economic value of the solar industry was boosted by 7%, and offshore wind contributions climbed by nearly 17%.

As per the CBI report, there shouldn’t be a choice between going green or heading for growth. After all, green businesses were already on the path to becoming a massive pillar of the UK’s growth.

A member of Renewable UK remarked that after the last financial crisis, Britain’s green economy was a substantial contributor to new fiscal expansion. It supported tens of thousands of jobs and found brand-new export markets across the globe.

He stated that the industry will again play a proactive part in rebuilding the economy as the area continues rebuilding after the coronavirus pandemic. Bennett believes going green is the best chance the UK has of a forward-thinking, productivity-enhancing recovery.

Investment Opportunities Within Britain’s Green Sector are Rampant

Much of the risk associated with renewable energy investments has disappeared, thanks to the ever-decreasing technology costs (mainly solar) and the UK’s commitment to a carbon-neutral economy by 2050. Not to mention the financial support offered by the government for those who invest in renewable sources.

The viability of green investments has been further bolstered by the murky waters of other investment opportunities — fossil fuels have fallen from many investors’ preferences.

Many economists believe the renewable energy industry’s financial support and the public policy encouraging the infrastructure could produce an employment and economic tailwind set to spur Britain’s recovery and battle the climate crisis.

The COVID-19 pandemic exacerbated the need to ensure the economy is resilient and sustainable in the long run, which means going green.

So Many Gains to Be Had Around the World

Worldwide, renewable energy could ensure a major recovery from the pandemic by boosting global GDP gains by $100 trillion dollars from 2020 to 2050 compared to leaving things as they stand.

Keith Anderson, the CEO of Scottish Power, adds that the environmental and economic advantages of green recovery investments are aligned. There’s never been a better time for investors to enter Britain’s ever-growing renewable energy sector to spur the region’s expansion.

Solar power is one of the best ways to make a business or home “greener.” It has several benefits that attract large businesses and private citizens. Decades ago, it was only available to the wealthiest individuals. Now its price has decreased, and the technology has improved. The average home or business can most likely afford solar power.

But those are not the only reasons solar power has experienced a boom. USA Clean Energy Association dives deeper into six of the advantages offered by solar technology and why it is worth considering.

Declining Price

One of the biggest reasons solar energy has become more popular is that it is cheaper than other
power sources. Until recently, solar panels could only be bought by NASA and particularly wealthy individuals. Today, any household can get solar panels – and often it’s less expensive than their current electricity bill!

The price of solar power has been decreasing since the 70s. Dr. Elliot Berman made the first big breakthrough in 1973. The cost decreased from $100 a watt to $20 a watt. Since then, solar cells have been used to power navigation lights, railroad crossings, lighthouses, and more.

Increased Efficiency

Along with the decrease in cost, solar power has gotten more efficient over time. Interestingly, corporate greed encouraged companies to develop more efficient solar cells. It was in their best interests to keep production costs low while having high energy output.

Environmental Friendliness

“Doomers” aside, everyone is aware of the impact humans have on the environment. Fossil fuels such as oil and gasoline release vapors such as CO2 into the air. CO2 and methane damage the ozone layer, letting in harmful ultraviolet light.

Fossil fuel is also a common source of international conflict. Switching to solar power not only benefits the Earth but also saves human lives.

Increased Autonomy 

Some people who invest in solar panels fantasize about being “off the grid” – that is, completely unbeholden to their region’s utility companies. Such companies frequently have monopolies and do not have their customers’ best interests at heart. If a homeowner gets solar panels, they can reduce their need for such services.

This disconnect also makes solar panels ideal for rural residences. And even if a home or business does not move entirely off the grid, getting solar panels can fuel a backup battery.

A Wise Investment 

Similar to the desire for autonomy, people who wish to save money are now looking to cut their energy bills via solar panels. Even though the investment may take a while to pay for themselves, they will in the long run. Solar panels can also increase the value of a property, making them excellent investments!

Low Maintenance 

Finally, solar panels are the easiest source of alternative power to maintain. Windmills, hydroelectricity, and other methods of alternative power all have moving parts or other risks. Solar panels only require cleaning and removal of tree branches to keep them working. Even dirty solar panels can make electricity.

Final Thoughts

Solar energy has so many advantages that its increased popularity feels like it was inevitable. It has been getting cheaper and more efficient over time. Solar panels are currently enjoying their time in the sun. Things are likely to get better from here!

The Inflation Reduction Act, signed into law on August 16, 2022, is anticipated to reshape the US energy industry, making fossil fuel alternatives more accessible to people. The legislation affects a lot — from health care access to drug pricing to deficit reduction. However, USA Clean Energy Association explains that its primary focus is climate change and the energy industry.

The bill’s main goal is to hustle the United States of America onto the path to decrease greenhouse gasses by 40% below 2005 levels by 2030. Currently, the country is forecasted to reach a 25% reduction, so the Act is accelerating expectations, becoming planet friendlier sooner.

The Inflation Reduction Act Provisions

One of the key drivers to going green is the nation’s capacity to construct renewable technology, such as solar panels and electric vehicles. And the recent bill makes this possible.

Simultaneously, decision-makers will ensure consumer-oriented provisions become more affordable for those with lower or middle incomes, allowing them to access electric-powered cars, heat pumps, and more.

The Act’s Provisions and Their Impacts on The Clean Energy Industry

Before the bill came into law, tax credits for the wind and solar energy were limited to one to three years. However, the Inflation Reduction Act locks them in for the next ten years. Policymakers believe this will spur new economic developments and jobs within sectors that rely on clean energy moving forward.

On top of that, the Act is set to provide tools for the domestic mining of resources required to make offshore wind developments, solar panels, and batteries. After all, offshore facilities can’t be developed without the huge ships needed to build them.

In addition, the bill sets aside masses of funding for bolstering the nationwide production of clean energy, including a $60 billion fund to support the onshore manufacturing of clean energy. Ideally, that will ease inflation and diminish the chance of future price shocks by limiting the costs related to non-fossil fuel options.

Extra funding provided by the Inflation Reduction Act to positively impact the clean energy industry includes the following:

• $20 billion in loans to fashion new manufacturing establishments for electric and renewable vehicles
• $500 million for the Defense Production Act, accelerating the creation of heat pumps and more efficient critical mineral processes
• Production tax credits for the nation’s manufacturers, ensuring they speed up the production of wind turbines, solar panels, and batteries
• Grants of $2 billion to facilitate automakers’ transitions to clean vehicle production
• $10 billion investment tax credits for brand-new manufacturing units making clean technology

Historically, the United States of America has been one of the world’s biggest greenhouse gas emitters. However, it’s also poised to be one of the greatest leaders in effective climate change fighting.

Experts state that the recently signed bill gives the country a chance to demonstrate real-time technologies that can be utilized throughout the nation and overseas. Ultimately, the Act provisions large-scale climate action, helping the US reach its goal of 40% below 2005’s greenhouse gas levels by 2030.

The renewable energy sector is on a mission to revolutionize traditional energy-related thinking patterns. Among various studies, hydrogen, solar, and other clean energy sources are on path to transform oil supply necessities, noting that such solutions are trending cheaper than oil and gas.

USA Clean Energy Association provides solar energy service, sales, and installations throughout the United States. As an industry leader, USA Clean Energy Association takes a look at what’s happening around the world within renewable energy, providing insights on the transformations, technology, and industry advancements to current and future solar/green energy customers.

What’s New in Clean Energy Worldwide

Renewable energy companies around the world are always looking for ways to develop new technology, improve their carbon footprint, and lower costs for customers. Below, a cost-competitive molecule, utilized by combining hydrogen and solar is discussed.

Hydrogen and Solar can Create a Cost-Competitive Molecule

With hydrogen, solar energy can be transformed into a molecule that behaves like oil, coal, or gas. It can be transported, stored, and used when needed.

And while the general population may still believe that such energy sources are expensive, that isn’t the reality anymore. Nowadays, the molecule is wonderfully cost-competitive especially in today’s market.

Thanks to advanced technology and the ever-dropping price of solar, renewable energy is trending cheaper than its fossil fuel counterparts.

The Scalability of Clean Energy in Europe

German based company Tree Energy Solutions is currently constructing Europe’s biggest LNG terminal in Germany, which will import regular liquefied natural gas. But beginning in 2026, the terminal will start importing ENG or electric natural gas (i.e., natural gas made with hydrogen).

Due to the difficulty of transporting hydrogen from the deserts of Texas or similar places, the European company has incorporated an extra step process.

Converting hydrogen into methane by combining it with carbon dioxide, this process creates an entirely renewable molecule that can be utilized wherever and whenever it’s required.

The business’ CEO said that the cost of the above operation will continue to decrease as the technology evolves. He went on to mention that the electrolyzers (required to craft the hydrogen) are also becoming less expensive, accelerating the price drop of clean energy solutions throughout Europe.

As more energy companies are becoming aware of such technology, they’re realizing that it’s not only cheaper but easier than drilling for fossil fuels.

The Future Energy Mix

Historically, there are polarizing views on the world’s future energy mix — the oil companies said it would all be oil-fueled, and electricity companies said it would be all-electric.

However, a consensus has finally been obtained. According to industry experts, the globe’s energy mix in the future will look something more like this:

• 50% will be electrons (i.e., direct electricity for things like heating, cars, industries, and more)
• 25% green molecules made by hydrogen
• 25% green molecules made by biofuels

Dominating one-quarter of the market, hydrogen is set to take up the same percentage as oil today.

This energy mix is expected to come to fruition by 2050. But industry participants are working tirelessly to bring the date forward, scaling the industry far quicker than anticipated.

The Bottom Line: Clean Energy is Set to Remain Cheaper Than Oil and Gas

Due to the ever-lowering price of solar technology and the push for cleaner resources worldwide, green energy is expected to stay less expensive than oil and gas going forward.

With more investment and awareness of renewable energy sources such as solar power, it has become far more accessible and cost-effective to add as a home improvement or included in building planning and construction. So, what is the best way to prepare a home to go solar?

USA Clean Energy Association explains that the most efficient way to make sure a home can harness solar power effectively is to factor this into its construction plans. This ensures that the roof has enough space for, and can hold enough solar panels. The orientation of the roof can also be calibrated to make sure that the panels capture as much sunlight as possible.

The following post discusses solar-ready homes, the benefits of converting to solar energy, and why it is being implemented into new-build housing.

What a Solar-Ready Home Needs

A house or building project that is being made solar-ready has to consider the following requirements:

• Enough Space for a PV System

200 square feet of roof space should be marked out in the plans for solar panels. This area shouldn’t be obstructed or overshadowed, so care should be taken to make sure other roof objects, such as chimneys and dormers, don’t block the light.

• The Right Positioning

To make the best use of any available sunlight, solar panels should ideally be installed to be South-facing. A roof pitch between 30 and 45 degrees will also assist in capturing power.

• A Robust Roof

Solar panels add additional weight onto a roof and as a result the rest of the structure. Care should be taken that the roof is designed to bear the extra load.

• Solar-Ready Electric

To make sure the home can utilize solar energy, a conduit is required between the solar panels and the electrical panel inside the house. The home’s electrical panel should also be compatible with a PV (photovoltaic) system and there should be enough space left nearby to install PV inverters and any other necessary equipment.

Why Solar Energy is a Quality Investment

Harnessing solar power not only helps the environment by providing a clean source of energy, but it is also a cost-saving investment.

A household generating their own solar power can cut down on energy bills and has access to a backup energy source should the grid suffer a power outage. They can also earn money by selling excess power back to the energy company.

Setting up a PV system used to be a costly venture. However, advancements in technology over the last decade have led to a drop in the price of solar panels by 60%.

Why New-Builds are Solar-Ready

There are a whole host of benefits as a result of installing solar panels for both homebuilders and potential buyers.

Not only is it significantly cheaper to install solar panels when a home is being newly built, but it also adds value to the property. Homebuyers are much more likely to pay a higher price for a home that is solar-ready than one that is not due to the reduced bills and investment value.

Builders can also be incentivized through initiatives in certain states if renewable energy is factored into the construction of their homes. It also makes their homes more saleable compared to competitors without the option for solar panel installation.

In a February speech, French President Emmanuel Macron honored the country’s industrial past while prioritizing its renewable energy-based future.

Speaking in Belfort, France, a city well-known for its engineering industry based on turbines and railways, Macron discussed his goal to increase the country’s capacity for renewable power 10-fold and become carbon neutral by 2050.

It’s part of an overall $1 billion “France 2030” investment plan centered on renewable energy projects to address the ever-present climate crisis. It also showcases France’s commitment to energy transition outlined in 2015’s Paris Agreement.

USA Clean Energy Association discusses below France’s Plan, Macron’s speech, and clean energy initiatives.

Renewable Energy Targets

France’s energy plan for the future is already taking shape. In late November, it approved legislation requiring lots with more than 80 parking spaces to be covered by solar panels.

According to the French government, this plan may generate 11 gigawatts of power, the same amount needed to power millions of homes and the amount of power created by 10 nuclear reactors.

The government also plans to pursue installing solar panels on highway-adjacent vacant land and agricultural spaces.

It’s just the beginning. France wants to install 190,000 square meters of solar panels in over 150 railway stations by 2025. By 2030, it wants 1.1 million square meters in place. The goal: a 25% reduction in energy consumption.

Changing the Status Quo

Macron’s goals are ambitious and considered lofty by his critics. In its commitment to renewables, France has pledged to up its renewable energy share to 32% of its total energy consumption.

It also wants to increase the share of total renewable energy production to 40%. In an earlier renewable energy pledge, France missed its goal of increasing its renewables share to 23% in 2020, missing it by nearly 4%.

About 50% of the country’s renewable energy output comes from decades-old hydropower plants. Nearly 72% of France’s total energy production is through nuclear energy, with fossil fuels and renewable energy accounting for 18%.

To hit the 2050 goal, its renewable energy output needs to not only diversify but become more efficient.

Other Initiatives

France has invested heavily in offshore wind farms. In September, it installed 80 offshore wind turbines off its western coast, and by the end of the year, it hopes to have its first-ever offshore wind farm running in Saint Nazaire.

That wind farm is expected to produce power to fill the needs of about 700,000 residents or 20% of the area’s energy consumption needs. It took nearly 10 years to launch.

Developing other sources of clean energy is a major goal within France’s urban environments. Gas and oil account for 2/3 of France’s total energy consumption, and it is reportedly looking into how to shift to alternatives such as hydrogen fuel and other low-carbon fuels.

Macron has further pledged that in the near future France will abandon coal, gas, and oil as energy sources. If that happens, it will become the first major nation to do so.

2022 may be remembered as the year that solar was set on track to overtake the fossil fuel industry. With the Inflation Reduction Act now signed into law, market analysts predict that the solar industry will grow roughly 40% in the United States alone. Considering that the US currently accounts for 16% of global energy consumption, this will spur a major shift toward solar power over the next decade.

Yet, it didn’t take an act of Congress to drive consumers toward the solar industry. With energy prices at their highest in decades, global interest in off-the-grid power supplies has been growing steadily in recent years. USA Clean Energy Association reviews some of these trends and discusses how they are affecting the global solar market outlook below.

Solar Industries Just Earned Billions of Dollars in Tax Breaks

Despite its name, the Inflation Reduction Act is the most significant piece of legislation in American history to support and invest in green energies. The bill not only extends the Investment Tax Credit for solar producers through 2030 but also awards additional tax breaks to solar battery manufacturers and individual homeowners who invest in new panels.

Thanks to these provisions, the US solar industry is projected to create nearly 550,000 new jobs in an industry that currently employs 4.3 million people globally and is already growing at a rate of 9% annually. This is expected to generate just short of $400 billion of investment for the industry, pushing it to new heights around the world.

Consumers Turn to Solar Power

As solar technology continues to become more efficient and affordable thanks to innovations in photovoltaic cell manufacturing and battery storage, an increasing number of consumers are turning to solar power to meet their energy needs. In particular, many homeowners are now choosing to install solar panels and batteries to insulate themselves from power outages and rising energy prices.

This is particularly true in markets where energy deregulation has led to volatile prices. In the commercial sector, solar power is also becoming increasingly popular as a way to reduce operating costs. Businesses of all sizes are now turning to solar to power their operations, with some even installing solar panels on their rooftops.

The trend toward solar power is also being driven by a growing awareness of the environmental benefits of renewable energy. With the effects of climate change becoming more and more evident, consumers are increasingly looking for ways to reduce their carbon footprint. Solar power is one of the most effective ways to do this, and as awareness of its benefits grows, so too does demand.

The Bottom Line

The global solar industry is growing at a remarkable pace and could soon rival long-standing energy titans in the fossil fuel industry. This growth is being driven by government investment (both in the US and internationally) as well as a growing interest among consumers looking to cut their energy bills while helping to protect the environment from added carbon emissions.