New report highlights the powerful growth solar has seen throughout the US
Solar power has become mainstream in the U.S., according to a new report from the Solar Energy Industries Association. The country has been investing heavily in solar power for several years now, but only recently has this form of clean energy begun to find widespread adoption from businesses and consumers alike. The report shows that solar power was the second largest source of new energy capacity in the U.S. in 2013.
Report shows that 4,751 MW of solar capacity came online in 2013
According to the report from the Solar Energy Industries Association, some 4,751 megawatts worth of solar capacity were installed throughout the country last year. The majority of this capacity was installed during the fourth quarter of the year. The report shows that there was also an 80% increase in the use of concentrated solar power systems, with some 410 megawatts of installed concentrated solar power coming online last year.
Solar power is becoming easier for people to access thanks to leasing programs and other initiatives
In 2013, solar power managed to shatter many of the records that it had set in previous years. Adoption among homeowners has grown significantly and businesses are also investing heavily in the solar sector. The cost of solar panels and other such technologies has also seen a steep decline in 2013. Last year, some solar energy companies began launching leasing programs that were meant to make photovoltaic products more accessible to homeowners. These programs have helped boost the adoption of solar power significantly over the past year.
US solar market currently valued at $13 billion
The report indicates that the U.S. solar market is currently valued at approximately $13.7 billion. As solar power continues to grow in popularity, this market value will increase significantly well into the future despite the fact that photovoltaic products are becoming less expensive. The U.S. currently boasts of more than 140,000 individual solar installations, many of which come from leasing programs or are associated with initiatives launched by the federal government that are meant to support the growing adoption of solar energy.