5 Signs That the Solar Industry Has Drastically Increased Popularity in the United States

The solar power market in the United States has rapidly developed in the recent past. Several factors are behind this growth, one of them being the development of companies that promotes solar installation leads. According to a study by Solar Energy Industries Association (SEIA), solar energy contributes to about 1.6 percent of the total electricity production in the United States. The following are five signs that the solar industry has drastically increased its popularity in the United States.

1. The Increase in Solar Job Opportunities

Employment in the solar division has increased by 160 percent since 2010. This is nine times the national typical job growth rate in the previous five years. In 2013, over 140,000 people secured employment in the solar sector making it a 53 percent increase in job provision from 2010. Currently, the United States has over 242,000 employees in the solar energy sector.

2. Growth in PV Power Installation

According to a study by Wood Mackenzie Power & Renewables, the rate of solar connection in the United States has increased to over 2 million connections. This has happened just three years after the solar production hit its millionth installation. It took 40 years for the first millionth installation to be recorded so hitting 2 million installations is a remarkable milestone.

3. Rise in Revenue in the Solar Energy Sector

Over the past few years, the solar energy sector has amplified its revenue by a huge margin. The revenue that the industry generated rose from $42 million to $210.4 million between 2007 and 2017, according to the Solar Energy Industries Association (SEIA). The solar industry contributes over 15 billion U.S dollars in the economy every year. This upsurge in revenue and investment is proof that the solar industry is increasing its popularity day by day.

4. An Increase in the Number of Solar Companies

The United States has more than 10,000 registered solar corporations. About 43 states have one or more public solar projects online that provide households with solar power. The solar market is still expanding and more solar plants will be constructed soon. The rapid growth of photovoltaic (PV) companies from a capacity of 7.7 GW in 2007 to 320 GW in 2016 indicates how fast the solar industry is growing. It is embracing the latest technology to increase its production capacity.

5.The Discrepancy Between Solar Energy and Other Conventional Power Sources

Solar energy falls under the category of advanced power generations. A report about the Advanced Energy Market shows that solar energy is the second-largest sector in the advanced energy market as it generates $238 billion annually on average. The rates of electricity bills have dropped significantly. The bills of solar energy consumers have dropped by about 90 percent. This decrease in electricity bills is proof that the solar energy industry is growing at a drastic rate and it will continue advancing even in the future.

The solar industry has rapidly grown in the recent past. This has caused stiff economic competition between solar energy and other energy sources in the U.S. Your solar enterprise needs quality solar leads to have an edge over competitors. Call Solar Exclusive on (702-462-7237) for solar power leads. Our firm offers lead production systems that will boost your sales and take your business to a higher level.