There are moments throughout history that define an era, from the invention of the light bulb to the creation of the internet. The technology highlighted during these periods of change were used as a catalyst for a social evolution that altered the way of life for all of humanity.
We have entered a new phase—one that changes the way we generate, use, and even think about energy.
Find out how solar technology is paving our path toward energy freedom with these latest solar energy facts below.
1. Solar Power is the Fastest Growing Source of Energy
Solar energy has experienced unprecedented growth over the past decade. According to the International Energy Agency, solar power capacity has been growing at an annual rate of over 20%. It went from generating 2.8% of the country’s energy in 2021 to 3.9% in 2023.
This rapid expansion is driven by decreasing costs, solar incentives, and an increased need for a renewable and sustainable energy source. Therefore, solar energy is set to become the largest source of electricity by 2050.
2. The Cost of Solar Panels Has Dropped Dramatically
The cost of solar power plant generation plummeted by more than 80% since 2010. This is in large part due to technological advancement that has reduced the price per megawatt/hour from $378 in 2010 to $68 in 2019.
Additionally, increased production efficiency as well as the rise of professional solar energy companies have made solar panel installation more affordable than ever.
Example:
At the beginning of 2023, the average cost of solar installations for utilities was $1.16 per watt. For small-scale residential projects, the cost was $2.68.
3. Solar Energy Can Power Airplanes
One of the most exciting advancements in solar technology is its application in aviation. The Solar Impulse 2, a solar-powered aircraft, completed a historic round-the-world flight in 2016, demonstrating the potential of solar energy in aviation.
Today, innovative tech companies like Airbus are working on unmanned, solar-run planes to travel the stratosphere.
4. Solar Energy Creates More Jobs Than Any Other Energy Sector
The solar industry is a significant job creator. According to the Solar Foundation’s National Solar Jobs Census, the solar sector employs over 260,000 workers in the United States alone. This includes positions in solar installation, manufacturing, sales, and maintenance.
A larger workforce is required to meet the demands of residential and commercial solar projects. Luckily, solar technician education has also increased, including online programs and degrees, certificates, and hands-on apprenticeships.
5. Innovative Solar Technologies Are Emerging
The field of solar energy is ripe with innovation. Perovskite solar cells, for instance, are a new type of solar cell that promises higher efficiency and lower production costs compared to traditional silicon-based cells. Additionally, bifacial solar panels, which can capture sunlight on both sides, are gaining popularity for their ability to generate more electricity from the same surface area. There are even more expensive options like solar roof shingles. For example, the one’s by Tesla are made of steel or glass and can replace your current roof structure.
6. Solar Power is Becoming More Efficient
Efficiency improvements in solar panel technology are significant. Modern solar panels can convert around 20-22% of sunlight into electricity, compared to just 15% a decade ago. Researchers are continually developing new materials and designs to enhance efficiency further, which means your solar panels can transfer more energy to your home faster with fewer cells.
7. Community Solar Projects are Expanding
Community solar projects allow multiple households and businesses to share the benefits of a single solar power installation. These projects are particularly beneficial for those who cannot install solar panels on their property due to space constraints, shading issues, or rental restrictions. Large solar fields disperse generated solar energy to members for a fee, similar to other utilities.
8. Solar Energy is Integral to the Electric Vehicle Revolution
The synergy between solar energy and electric vehicles (EVs) is transforming the transportation sector. Homeowners with solar panels can charge their EVs with the clean energy that they generate, making power for their cars practically free. Additionally, solar-powered EV charging stations are becoming more common, making it easier for drivers to travel long distances using renewable energy.
9. Solar Power is Key to Disaster Resilience
Did you know that solar energy can enhance the resilience of communities to natural disasters? For example, solar-powered microgrids can provide reliable electricity during power outages caused by hurricanes, wildfires, or other emergencies. By decentralizing power generation, solar energy systems contribute to more robust and flexible energy infrastructures, capable of withstanding and quickly recovering from disruptions.
10. Solar Energy Can Be Used in Space
Solar energy isn’t just limited to Earth; it plays a crucial role in space exploration as well. Spacecraft, satellites, and the International Space Station rely on solar panels to generate electricity. These solar arrays convert sunlight into power, enabling scientific missions and communication satellites to operate far from Earth. The success of solar energy in space applications demonstrates its reliability and versatility, paving the way for future space exploration missions powered by the sun.
Solar Energy Facts Are the Future
Be on the lookout for more solar energy facts because this industry is still in its infancy. And even though solar technology has so much growth potential, it is still at the forefront of the renewable energy revolution. This leadership role contributes to its rapid expansion.
You don’t want to be left behind when it comes to energy transformation. Not embracing solar now would be like refusing to get a computer when the whole world began using the internet.
Start today by contacting Rising Sun Solar Solutions for a free estimate to begin transforming your home’s energy capabilities.