Predictions indicate that 2021 is likely to be a bright year for the solar industry. Although 2020 experienced a major decline in residential solar installations, the biggest decline for this segment of the industry to date, that decline was associated with the COVID-19 pandemic. As 2020 came to a close and the new year began, the solar industry has already witnessed evidence of a solar bounce-back in the U.S., and that upward trajectory is expected to continue this year and in the years to come.
According to PV Magazine, demand for solar panels in 2021 will grow by 15% globally and reach a total capacity of 143.7 GW. This growth is likely to include projects that were delayed in 2020 by the COVID-19 pandemic as well as new project launches. While 15% is significant from a global perspective, that percentage is likely to be double in the U.S. This 30% increase will likely be supported by the incoming Biden administration and its plans to invest more than $400 billion in clean energy over the course of the next decade.
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Other clean energy trends, especially within the business sector, will also support the solar industry in the year ahead. With companies like Google positioning themselves to operate “carbon-energy free” by 2030, more innovations in solar and other alternative energies are expected to come. In fact, even traditional energy companies may begin to diversify and embrace new sustainability initiatives.
As both the residential and business sectors are likely to boost the solar industry in the years ahead, we can expect positive growth for solar adoptions. Solar companies like Impact Solar are stocking up solar accessories such as snow guards for solar panels or solar panel critter guards to help new buyers protect their investments longer.
Impact Solar offers solar services for both residential and commercial customers. Tax incentives and decreases in solar product pricing continue to drive solar adoption rates. If you’re considering a switch to solar energy, contact Impact Solar for a free consultation. You could be part of solar’s bright future starting this year.