Us Solar Panel Industry Statistics

Nearly 250 000 americans work in solar more than double the number in 2012 at more than 10 000 companies in every u s.

Us solar panel industry statistics.

Solar panel installation in the us industry trends 2014 2019 solar panel installation in the us industry outlook 2019 2024 poll average industry growth 2019 2024. Updated september 10 2020. The solar energy industries association s solar. X x lock purchase this report or a membership to unlock the average company profit margin for this industry.

Solar panel efficiency has increased from 6 in 1954 to over 40 on high efficiency panels today. Most solar panels have 20 year warranties but many of the earliest installed panels are still working 40 years later at 80 efficiency or more. Building new solar power plants can be up to 10 per mwh cheaper in some cases than continuing to run existing coal plants. 90 97 of a decommissioned solar panel s materials can be recycled or sold.

Installations have grown 35 fold to an estimated 62 5 gigawatts gw today. In 2019 the solar industry generated 18 billion of investment in the american economy. Currently the us solar industry employs about 242 000 people and generates tens of billions of dollars of economic value. Investment statistics corporate solar investments surge in the us.

In that year 5 77 percent of respondents aged 18 to 29 years owned. Residential installations were down 23 from q1 to q2 2020 due largely to shelter in place orders during the initial stages of the covid 19 pandemic that imposed restrictions on selling and installing residential solar. Published by alexander kunst jan 21 2020 this statistic illustrates the share of americans owning solar panels in 2018 by age. Installed 3 5 gigawatts gw of solar pv capacity in q2 2020 to reach 85 gw of total installed capacity enough to power 16 1 million american homes.

Solar electric capacity surpassed 2 000 megawatts in 2009 enough to power over 350 000 homes. This is enough capacity to power the equivalent of 12 million average american homes 1. Solar growth statistics the economic index of the solar industry. Solar industry jobs by sector.

Solar power is more affordable accessible and prevalent in the united states than ever before.