Solar installation continues to grow year-over-year, and commercial solar saw a significant rise in 2024.
According to the Solar Market Insight Report by the Solar Energy Industries Association, commercial solar grew 44% in 2024 Q3 compared to the same time in 2023. Residential solar saw an increase of 39% year-over-year, and community solar increased 12% year-over-year.
The report said, "Texas and Florida continue to be the top-ranked states for capacity installed in 2024." New commercial pipeline projects in California, Illinois, Maine, and New York were also highlighted.
Solar installation continues to grow because of how much money it can save you. According to Forbes, "Homeowners who invest in solar panels can save up to $187 monthly."
Additionally, the U.S. Department of Energy states that solar power is a vital tool in combating a warming planet. Since solar power doesn't produce toxic gases, using it instead of dirty energy reduces the amount of polluting gases emitted into the atmosphere. It also improves the air quality and reduces the water used in energy production.
While investing in solar power to get these benefits may seem daunting, EnergySage makes it easy. The solar company has a marketplace where you can search for providers in your area just like you would search for flight deals. This tool ensures you find the best deal for your home.
The Inflation Reduction Act can also help you save money installing solar panels. It offers tax rebates, which will make the upfront costs cheaper. EnergySage also has a tool to help you navigate just how much you can get in tax incentives.
Unfortunately, the future of these tax breaks is unknown because, according to The Salt Lake Tribune, President-elect Donald Trump wants to eliminate them. However, it will take a vote from Congress to do so.
While the future of these incentives is uncertain, the solar market is still thriving.
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SEIA president and CEO Abigail Ross Hopper said, "The United States is stepping up to take market share from foreign competitors and making sure that the jobs and economic growth from solar are benefiting American communities."
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