New initiative aims to expand solar energy throughout the United StatesJuly 21, 2016
Clean Energy Savings for All to increase accessibility of solar power systems
President Barack Obama has announced new plans to increase the availability of solar energy, particularly for low-income households. The initiative is called the Clean Energy Savings for All and aims to increase the use of clean power in low and moderate-income homes throughout the country by a significant margin. The solar energy market in the United States has been growing quickly in recent years, particularly among the residential sector. The demand for solar power systems has grown significantly, but such energy systems had been too expensive for many people to afford.
Cost of solar power continues to fall throughout the US
The cost of solar power has dropped significantly since 2009. According to President Obama, the Clean Energy Savings for All will give more communities and families the chance to embrace clean energy. Since Obama took office, the use of solar power has increased 30 fold. Notably, the solar industry in the United States has grown 12 times faster than any other economic in the country. This has created many opportunities for many of those interested in renewable energy. Despite the quick growth of the solar energy market, solar power remains a largely underutilized resource for the United States.
Solar power remains underutilized in the United States
According to the Solar Energy Industries Association, approximately 1 million homes in the United States make use of solar power. This only represents only one-quarter of the new goal established by the Clean Energy Savings for All initiative. The endeavor aims to vastly increase solar usage by 2020. The goal is more ambitious than President Obama’s previous endeavor to increase the use of renewable energy by 100 megawatts by 2020.
Federal agencies will aid in the adoption of solar energy
Housing authorities in 36 states have all agreed to invest some $287 million in order to help finance some 280 megawatts worth of solar projects in low and moderate-income communities. Six federal agencies will also participate in the Clean Energy Savings for All initiative. These agencies will provide additional financing for rooftop solar energy system, further increasing the availability of solar energy systems for many communities.