Homeowners across the country are choosing to have solar panels installations, solar hot water heaters, and other solar products installed in their homes. According to Energy Star, a single solar hot water heater can actually decrease the average household’s water-heating costs by up to 50%.
These solar companies aren’t just providing energy benefits to its customers and homeowners, they are actually greatly contributing to the entire U.S. economy and future.
As reported by the Solar Energy Industries Association (SEIA), the entire solar industry added more than two gigawatts (GW) of solar capacity for the sixth consecutive quarter.
For quarter 1 of 2017, the U.S. installed 2,044 megawatts (MW) of solar power systems that will now reach 44.7 GW of total installed solar capacity. The amount of solar capacity will now be able to sufficiently power 8.7 million homes across the United States.
Market researches project that the solar industry will continue to grow over the next few years and could as much as triple to over 100 nationwide GW over the next five years.
“Solar is delivering more clean energy, adding jobs 17 times faster than the U.S. economy and creating tens of billions of dollars in investment,” said Abigail Ross Hopper, president and CEO of SEIA. “With its cost-competitiveness, we know solar will continue to play a growing role in America’s energy portfolio.”
CNBC states that the market report came from SEIA and GTM research. In addition to the nationwide GW increase, the utility-scale price fell below $1 per watt for the first time ever.
“The solar market clearly remains on a strong upward trajectory,” Hopper added.
Just a few years ago, even some of the most optimistic of solar researchers didn’t predict how successful the solar energy growth would be.
On a local level, in Arizona, having a solar energy system can actually qualify residents for a $1,000 state tax credit and, though 2019, a Federal Investment Tax Credit. If you want to learn more about the benefits of having a solar hot water heater in your home, the solar industry as a whole, or just want to consult with a trusted solar company, contact Custom Solar and Leisure today.