Saturday, September 6, 2014

U.S. solar industry rapidly growing in 2014

The U.S. solar industry is rapidly growing. According to the latest report by the Solar Energy Industries Association (SEIA) United States added 1.133 MW of new solar power capacity in the second quarter of 2014.

The total solar power capacity currently installed in United States is said to be around 16 GW, which is enough to provide power for approximately 3.3 average U.S. homes.

U.S. solar energy industry is the fastest growing industry in the country with the major impact on nation's economy. It has been estimated that U.S. solar energy industry currently employs around 145,000 people, and is worth to U.S. economy $15 billion a year.

Solar power continues to be a No.1 source of new electricity generation in United States, in fact 53% of newly generated electricity came from solar power in the first half of 2014. The each of the last three quarters accounted for more than 1 GW of new installed solar power capacity.

At the end of the second quarter of this year more than half a million homeowners and commercial customers have installed solar photovoltaics (PV). The latest GTM research predicts that United States will reach 6,5 GW of new PV installations in 2014, which should represent a growth of nearly 36% as compared to 2013.

There are many factors behind this staggering growth of solar capacity in United States. The large credit goes to wise and effective policies (such as tax credits and renewable energy standards).

Solar will continue to grow even further, providing many new homes and business with power, in years to come. Solar power is clean source of energy that is not only becoming cheaper but also lot more reliable than before. With the little luck, and the further increase in efficiency solar could  become the most important energy source nationwide in not that distant future.