As long as we live under the sun, the solar industry will continue to thrive. This fact has been very evident ever since we ushered in the New Year. 2017 is the Solar Power Year. Thanks to the ever increasing electricity bills, we have been forced to look for alternative sources in order to survive. Solar energy has always been the answer. As long as you can see the sun, you have a free energy source. With the solar technology improving rapidly, it is only a matter of time before electricity companies start begging us to use their power more.
If you look at statistics, 2017 is bound to see the biggest growth in solar industry ever recorded. As we speak, it has increased by over 50%. However, most of the credit goes to the United States and China. These two nations experienced a sun rush last year and residents took advantage of the situation. 50GW was not enough anymore. More solar panels were installed and the number rose to 76GW. Did you ever think you would see a time when the number one source of new electricity generating capacity in America is solar energy?
Reason for Growth
One of the biggest factors that contributed to this massive growth is the price. Last year, the price of solar power installation dropped to an all-time low. This made it easily affordable to the people and millions took the chance to jump on the bandwagon. It also led to the creation of numerous jobs and further widening its reach. With a lot of us now benefiting from solar power, the only direction the industry can go is up. In the next five years, solar power will still be the hottest commodity around as far as energy is concerned. Here is another reason for growth in the solar industry.
Another great contributor is solar farms; our answer to the regular electricity power stations. Who said we can’t have merchant power supplied into our grid? They are becoming more and more popular with numerous energy companies embracing the idea. At the moment, the biggest solar farm can produce up to 800 megawatts. Soon, emerging projects will exceed the 1gigawatt mark.
The solar industry gain does not seem to be slowing down any soon. In the next five years, it will be bigger than ever. Energy is what powers everything in our lives from phones to cars, computers, lights and every home or office appliance. The more we have it, the better.