For residential property owners, solar panels come with a dual value. Residential solar panel installation comes with significant savings on energy bills and helps to keep our planet healthy.

Solar panels are becoming more mainstream every year and are starting to reduce our collective dependency on fossil fuels.

It is an exciting time to be involved in the solar industry and for homeowners to switch to solar energy. In this blog post, we highlight 5 solar energy statistics that everyone should know.

1. Solar Panel Costs Have Never Been Lower

Solar power has come a long way in the last few decades in terms of becoming more appealing to the average homeowner. Even in the last decade, the average cost of installing solar panels has fallen by approximately 70%.

With the affordable upfront cost, tax incentives, and the possibility to save thousands of dollars on energy bills, now is the right time to switch to solar.

2. Solar Power Is Earth’s Most Abundant Energy Source

An incredible 173,000 terawatts of solar energy constantly hit the Earth, making solar power our most abundant energy source. While solar energy is not technically infinite (the sun won’t last forever), we will be able to rely on it for billions of years more than finite energy sources like coal and oil.

3. 1 In 7 US Homes Will Have Solar Panels by 2030

It is projected that 1 in 7 US homes will have made the switch to solar energy by 2030. This is certainly one of the most exciting and interesting statistics for solar energy in the US.

Currently, there are more than 250,000 people employed in the solar industry in the United States. With regard to solar energy usage statistics, 22,000 square miles of solar panels (around the size of Lake Michigan) would supply sufficient energy to power the entire country.

4. Solar Panels Last for Decades

Solar panels have a stated lifespan of around 25 to 30 years. However, this doesn’t mean that they will suddenly stop working. This timeframe refers to when their electricity output decreases below what the manufacturer projected. With proper care and maintenance, solar panels can contribute to your energy needs for 40 or even 50 years.

5. China Still Leads the Way Globally

China has plans to add an additional 65 GW of solar power capacity by the end of 2021, which would take its total solar installations to more than 300 GW. In comparison, the US currently has a solar power capacity of around 97 GW.

Contact your local solar company to learn more about making the switch to solar power.

Solar Energy Statistics Everyone Should Know

Solar power is no longer the future, it is the present. These statistics showcase the growing popularity of solar energy and the reasons behind this. If you are thinking about moving to solar energy, now is the perfect time to make the switch.

Like this blog post on solar energy statistics? Be sure to check out our other interesting articles on the rest of our blog today.