Solar Market

In the U.S., the renewable energy movement has been jumpstarted by an outpouring of growing market demands for affordable regenerative renewable energy. The market has grown exponentially over the past ten years. We are just seeing the tip of the iceberg.

States like CA, AZ, NM, MA, NJ, and NY are leading the charge with clean renewable energy. These states have either high cost of energy, high sun irradiation, or State level incentives that are driving the adoption of solar energy.

Now with thousands of solar equipment manufacturers, there is a huge market for the solar industry and it's getting more competitive which leads to equipment pricing efficiency. Solar energy systems have never been more popular in the US than they are today. With the residential solar financing being robust and available, along with commercial solar energy systems achieving exponential growth, the market will continue to grow. As more solar adoption happens in the US, the trending cost of equipment will continue to fall. Although we have experienced tariffs on solar modules, inverters, and steel (the three main components to a solar system costs) manufacturing efficiencies and scale are driving prices downward which is a huge benefit to the customer.

As we all have experienced, Utility rates are on the rise with no end in sight. The increase in energy costs from traditional dirty fossil fuels will help emphasize and assist the solar industry throughout the next decade. Technology is also constantly evolving and equipment is getting more efficient as time goes on.

With the drop in equipment prices and the drop in incentives across the US, we should see a steady growth pattern and widening of the solar market. Solar is not just for environmentally conscious people, it now makes economic sense in addition to the environmental benefits.