3 Little-Known Facts About The Solar Industry

Solar panels are one of the most innovative and important clean energy inventions to date. As solar professionals, you’re already well versed on the process of solar energy systems and the ways they can save homeowners money.

That’s why we thought it’d be fun to share a few lesser-known facts about the solar industry that you may not be familiar with!

1. The solar industry grew 40% from 2021 to 2022, with a record number of 700,000 homeowners adopting solar. 

During the past year, solar panel projects have shown incredible growth, creating more clean energy jobs and helping more homeowners lock in their utility rates. With the highest number of homeowners switching to solar this year, it’s clear that solar is only gaining in popularity. But solar adoption overall has a long way to go — according to PV magazine, only 4% of homes have panels installed.

2. Solar energy is so abundant it could power 10,000 times the world's total energy use.

The sun is a magnificent source of renewable energy, giving us nearly limitless opportunities to harness its power to fuel our homes! Unlike quickly disappearing fossil fuels, solar energy can easily meet the demands of our global energy needs — that’s why it is so important to make switching to solar budget-friendly for more households.

3. 99% of the U.S. coal fleet is now more expensive than solar or wind energy.

Another (and more surprising) reason why solar can replace non-renewable energy sources is price. Almost every source of solar energy is now more economical than coal. And with the Inflation Reduction Act reinstating the 30% tax credit, systems can be even more affordable for homeowners.

Financing applied for and processed through the Mosaic platform is originated by Solar Mosaic LLC or one of its lending/financing partners. Equal Housing Lender.

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