Search This Blog

Friday, January 16, 2015

Solar Gains Outpace Fossil Fuels

The massive growth in solar is leading to more jobs and less pollution. It's important to keep in perspective those gains. Solar Included for First Time Ever in State of American Energy Report highlights the fact that some oil companies are actually considering getting out of the fossil fuel business to go solar in a very big way.

At this point in time, solar is growing the economy:

Most importantly, the report predicted strong, continued growth in all sectors of the U.S. solar industry—residential, commercial, utility-scale and solar heating and cooling—over the next two years.
"The United States is in the midst of a new era in domestic energy abundance characterized by rising use of renewable energy and increased oil and natural gas production that is strengthening our economic outlook and enabling America to emerge as a global energy superpower," said API President and CEO Jack Gerard. "It's a remarkable transformation that has been made possible because America is uniquely rich in energy resources, a talented workforce and cutting-edge energy technologies."
Solar energy is one of America's great success stories. Last year, solar installations were 70 times higher than they were in 2006—and today there's nearly 30 times more solar capacity online nationwide. We've gone from being an $800 million industry in 2006 to a $15 billion industry today. The price to install a solar rooftop system has been cut in half, while utility systems have dropped by 70 percent. It took the U.S. solar industry 40 years to install the first 20 GW of solar. Now, we're going to install the next 20 GW in the next two years. In fact, during every single week of 2015, we're going to install more capacity than what we did during the entire year in 2006. Any way you look at it, solar energy is paying huge dividends for the economy, our environment and America's future.
Moreover, with solar going down in price along with storage, the growth of solar is likely to accelerate this year. It's no wonder that we'll see at least one major player in fossil fuels selling their fossil holdings and buying into solar+storage. It's already happening in Germany and it's only a matter of time before in happens here and elsewhere.