4 Must-Know Facts About the Solar Industry

Builders building photovoltaic solar module station on roof of house. Men electricians in helmets installing solar panel system outdoors. Concept of alternative and renewable energy.

As solar adoption grows across America, here are a few key facts to know.

Solar can save money on utility bills

  • Solar power may lower energy bills and creates savings for homeowners.
  • Compared to relying solely on your utility, average solar customers save about $52,000 on their electricity bills over the 25-year life of their solar panels.
  • Energy bills are expected to continue increasing especially in certain states; solar can lower energy bills and create savings for homeowners.

Solar power creates jobs

  • Solar energy provides 364,500 jobs across the United States, and if you include those who work in the solar battery industry, that number jumps to 454,000!
  • Solar boosts local business, fuels local economies, and increases home property value—benefitting the whole neighborhood.
  • Solar also lowers energy bills and creates savings for homeowners. Energy bills are expected to continue increasing especially in certain states; solar can lower energy bills and create savings for homeowners.

The United States ranks second in the world for solar energy generation

  • The U.S. is only surpassed by China for solar energy generation. The U.S. does have some catching up to claim the #1 spot, with China generating more than double in solar energy in 2023.
  • Within the states, California ranks as the largest market for solar overall, although Texas surpassed California’s solar installations in 2023. Florida ranks third out of the rest of the 50 states.
  • Altogether, over 200 gigawatts of total solar capacity is installed nationwide!

Solar has an incredibly long history

  • The advancements and adoption of solar has been newsworthy the last few decades, but the invention of solar energy goes way back.
  • The history of solar panels dates back to the late-19th century, with the first two patents for solar cells filed in 1888. And it wasn’t until the 1950’s, that solar cells started being produced.
  • Solar used to be cost-prohibitive for the majority of the population. Technological advances in the production, process and installation of solar panels, as well as financing technology, has helped make solar more affordable for homeowners.