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Future of Solar in 2023

The future of Solar

Solar power has grown tremendously in recent years. Nationwide solar capacity has exceeded enough to power 24 million homes.* Solar panels are a great investment for homeowners who pay high electricity prices, have roofs with a decent amount of sun exposure, & want to reduce their environmental impact. Top-grade panels also come with a manufacturer warranty of up to 25 years! Solar panels can generate electricity for decades without producing carbon emissions. Once a solar panel reaches the end of its service life, it can be recycled thanks to its modular design. By comparison, conventional power plants fired by fossil fuels produce significant emissions during their lifespan and cannot be dismantled as easily as a solar array. California is responsible for nearly 40% of Solar capacity in the U.S.

So What Does the Future Look Like?

Renewable energy is considered essential to reduce global warming and CO2 emissions.

In line with the efforts by each state to build new renewable installations, our administration has set a goal of achieving a carbon pollution-free power sector by 2035 and a net zero emissions economy by no later than 2050! The EIA forecasts the share of U.S. electricity generation from renewable sources rising from 22% in 2022 to 23% in 2023 and to 26% in 2024! Our lovely state of California also offers many incentive programs and financing options for home solar systems, making it easier than ever for a homeowner to purchase! With the amount of favorable sunshine conditions in CA, a 5-kilowatt (kW) home solar system can generate over 7,500 kWh per year!! If you consider an electricity price of 20 cents per kWh- that is equivalent to more than $1,500 in power bill savings in one year! (WOW). The numbers don't lie! According to a study by the National Renewable Energy Laboratory* each $1 of annual savings achieved by solar panels increases your home value by $20. Based on this figure, a home solar system that saves you $1,500 per year would increase your home value by $30,000.

* study based off of Solar Energy Industries Association (SEIA).

* National Renewable Laboratory