The renewable energy industry has made a massive growth in the last several years, and it is predicted that it will continue. Residential customers, as well as corporations are buying solar panels by the pallet to bring their alternative energy projects to life. Prices on solar panels are more economical then they were when solar energy first hit the market place. Prices continue to drop, and more options are brought to consumers.
How Can We Be Certain About the Rise of Solar?
There are many factors that industry leaders are taking into consideration when they make their predictions about the rise of renewable energy. Despite measures that have affected this industry, such as tax reforms and tariffs, there is a solid foundation for this alternative energy solution to continue its growth.
Here are just some of the trends that support these facts.
• Demand – there is a huge demand for this type of energy. This is partly driven by corporate buying and utility companies.
• Costs – Solar energy offers a huge decrease in utility cost, allowing consumers to quickly reap the benefits of this alternative energy.
• Battery Storage – While battery storage was once the largest factor in solar cost, battery costs have decreased by about 80 percent since 2010. Opening more opportunities for consumers.
Trends that are coming this year and in the near future help industry leaders see the possibilities that renewable energy have, and the growth that will continue to affect this market in a positive way.
• State Policies – Many state policies play a key role in the solar industry and its growth. There are several states that offer huge benefits to consumers who turn to solar products. States such as California and Hawaii hope to be 100% renewable energy by 2045. With such policies in place, the growth of solar power is inevitable.
• Investor Interest – Corporate renewable projects are at an all-new high and there is no end in sight. There are over 160 corporations that have currently joined RE100 and are dedicated to successfully achieving 100% renewable energy. In addition, there are a number of oil and gas companies that have increased their investments in solar power and similar projects in the last several years.
• Advancements – New technology continues to increase the demand for solar. Not only for the use of energy, but also the efficiency it offers. Solar has become increasingly popular for its reliability, and the offerings that the market now provides. Buying single panels is a thing of the past, as most individuals and corporations opt to buy solar panels by the pallets to complete their projects.
Absolutely everything leads to solar energy growth. Including a decline in cost, climate changes, general involvement with green energy and products and corporation investments on the rise.
Signal Alarms and Electric is an electrical contractor in Southern California providing full capacity electrical contracting services for new construction, renovations, tenant improvements, service upgrades, exterior, interior and landscape lighting, retrofits and service installations in the Southern California/Los Angeles County area.