The USA’s Renewable Energy Market Progression
The USA increased solar power generation farther than any other energy source at the beginning of 2018. Solar produced fifty-five percent of power added in 2018. One of the reasons for this increase in solar power usage in different states is favorable local policy.
The policies have assisted local areas and states in decreasing air pollutants, the betterment of public health, creating jobs and lowering costs. This process will convalesce the security and reliability of the country’s energy systems.
The USA is known to have a lot of the best renewable energy resources worldwide. A Fourth of the land area has strong winds ample to generate electricity at an equal price to that of natural gas and coal. They are an important player in the renewable energy market and continue to keep increasing their efforts in shifting to more sustainable sources of power.
10.6GW of solar PV system capacity was instated in the United States of America during 2018, which was further able to reach 64.2 GW of overall instated capacity. This amount of generation is sufficient to power around 12.3 million households (Solar Energy Industries Association).
These numbers are expected to double in the coming 5 years and are estimated to add 15GW of PV capacity yearly by 2024 (Solar Energy Industries Association). The number of residential PV systems used in 2018 surpassed expectations, especially by California, Florida, and Nevada.
California is a top state in solar power generation. According to Energy Manager Today, Loss Angles is the leading nation in installed solar PV systems. Close to 17 % of the State’s electricity comes for solar energy and employs more than 86,000 people. They have vast solar energy installations such as the Topaz Solar Farm and have the capacity to generate 50MW of power.
In early 2018, the California Energy Commission also decided on a policy that requires all new houses to adopt solar PV systems in 2020. This is anticipated to increase the overall demand for solar energy in the years to come (Solar Energy Industries Association).
Residential PV systems saw a 7% growth in 2018. However, there was only moderate growth in 2019, primarily because of market maturation. Consequentially, this limited long-standing development prospects in key Northeast markets.
In 2023, it is estimated that thirty percent of non- residential energy will come from community solar power and twenty percent will come from solar storage projects.
The United States of America had been an early pioneer in the research development of renewable energy sources. They are one of the leading nations and continue to innovate further in this global green revolution.
The responsibility and commitment towards shifting towards renewable sources of energy are great. With the recent developments switching to clean energy is gradually becoming a reality. Solar energy generation is at it’s highest and keeps growing yearly.
India has also started taking part in this leading race and is in is early stages can look for motivation from developed countries that continue to move in the desired direction. The Indian market has a lot more perspective on solar power and utilizing it to meet the power needs better.
At Amplify, we intend to serve this vast market by offering a one-stop shop solution for people looking to switch to solar rooftops. We hope to make this process less complex for both residential and industrial.