Historically, the high cost of photovoltaics put solar out of reach for many people. Thankfully, technology is catching up to demand for solar, and combined with rebates it has become much more affordable. In the last 15 years alone, the average price per installed watt has dropped from $11/W to $3.50/W! To summarize solar industry trends: demand is skyrocketing, and the price continues to fall. Since 2011, the cost has dropped a staggering 60%. Year after year solar is recording tremendous growth, 2015 grew 19% over the previous year.
Solar energy is the cleanest, most abundant renewable energy source available. In just one hour, enough energy from the sun hits the earth to sustain global energy consumption for an entire year. If we could cover just 2% of the Sahara Desert with photovoltaics, it would provide enough electricity for the entire planet. Solar is the fastest growing source of renewable energy in America and throughout the world. In 2015, 7.5 GW of solar were installed. That’s 7,500,000,000 watts installed in 2015 alone! There are now 29 GW (29 billion watts) of cumulative PV capacity in the U.S., which is enough to power approximately 5.7 million American homes.