In the last decade, the annual growth of solar has grown on average of 33%.

The solar industry generated nearly $33 billion of private investment in the American economy in 2021

In the next five years, the solar industry is expecting to install more than 336 GW of Solar capacity. That’s more than doubling the current amount of solar.

Congress passed an extension of the ITC, raising tax credit from 26% to 30% for solar installation for the next 10 years (2022-2032)

How Solar Works

When the sun shines onto a solar panel, energy from the sunlight is absorbed by the PV cells in the panel. This energy creates electrical charges that move in response to an internal electrical field in the cell, causing electricity to flow.

Financial returns and lower monthly utility bills are major incentives for going solar. Some factors to consider when it comes to the amount of savings:

- Electricity consumption
- Solar energy system size
- When you purchase or lease your system
- Direct hours of daily sunlight
- Size and angle of your roof
- Local electricity rates.

Each kilowatt-hour (kWh) of solar that is generated will substantially reduce greenhouse gas emissions like CO2, as well as other dangerous pollutants such as sulfur oxides, nitrogen oxides and particulate matter.  Solar also reduces water consumption and withdrawal.

Studies show that homeowners pay a premium for a solar home; one study by Lawrence Berkeley National Laboratory showed that on average, solar increased the value of a home by about $15,000.

Most states in the United States have good-to-excellent solar resource. Even places with relatively low solar resources, such as the Pacific Northwest and Alaska, can experience cost savings, and have similar solar resources to countries that have widely developed solar PV, like Germany.