With more than 5 million homes now powered by solar, the United States is shining brighter in its shift toward clean energy.
As reported by Electrek, the Solar Energy Industries Association (SEIA) and Wood Mackenzie announced the recent milestone and highlighted the rapid growth of solar power in the U.S., with more than half of all installations coming online since 2020.
The journey to 5 million installations is particularly impressive given that it took over four decades to reach the first million in 2016. The momentum has accelerated dramatically, with over 25% of installations occurring since the Inflation Reduction Act became law in August 2022.
One major benefit of the IRA is the 30% tax credit for installing solar panels, saving homeowners an average of $4,600 and making solar energy more attractive by lowering electricity bills and promoting a cleaner environment.
The nonprofit Rewiring America is one of the easiest places to use for reviewing the available benefits. It provides free tools to help homeowners navigate available tax incentives, find qualified contractors, and make home upgrades more affordable. These resources simplify the process of improving energy efficiency, so making your home eco-friendly and cost-effective is easier than ever.
The IRA incentivized companies as well as homeowners. Domestic solar panel production has surged, highlighted by a $400 million deal between Heliene and Suniva to manufacture solar products in the U.S. This partnership uses the Domestic Content Bonus Investment Tax Credit, encouraging American-made solar products.
By promoting local manufacturing and offering tax incentives, the IRA helps reduce energy costs for consumers and supports the growth of the U.S. clean energy industry.
"Today, 7% of homes in America have solar, and this number will grow to over 15% of U.S. homes by 2030," said SEIA president and CEO Abigail Ross Hopper, per Electrek. "Solar is quickly becoming the dominant source of electricity on the grid, allowing communities to breathe cleaner air and lead healthier lives."
SEIA forecasts suggest that the number of solar installations will double to 10 million by 2030 and triple to 15 million by 2034. California leads with 2 million solar installations, though recent state policies have impacted its rooftop solar market.
Other states, however, are experiencing rapid growth. Illinois, for example, has grown from 2,500 solar installations in 2017 to over 87,000 today. Florida has seen its installations surge from 22,000 in 2017 to 235,000.
The U.S. government's support for solar energy, combined with the proven economic and environmental benefits, has made solar power an increasingly attractive option for millions of Americans. As the nation continues to invest in clean energy, the future looks bright for solar power.
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