In its annual World Energy Outlook published on Tuesday, October 13, 2020, the IEA (International Energy Agency) said that renewables are expected to overtake coal as the primary means of producing electricity by 2025.
The Executive Director of the IEA Fatih Birol stated "I see solar becoming the new king of the world's electricity markets," he went further by saying "Based on today's policy settings, solar is on track to set new records for deployment every year after 2020."
While here in the United States we are behind many other countries on the implementation of renewables as "must-haves", the world as a whole is projected to see an increase from 8% of world electricity production in 2019 to over 30% by 2030. Citing newer technologies, lower costs of production and government incentives have all lent incredibly to the development of solar worldwide.
Here in the United States we have seen exponential growth in the renewables sector of solar installation, in 2010 there were roughly 245 Megawatts of residential solar installations nationwide. This year that number is projected to exceed 17,000 Megawatts of residential solar installed. As one of the premier solar installation companies in Maryland, Virginia, and Pennsylvania, we understand that a large portion of this increase is due in part to lower costs and better products, but another reason to "Go Solar" is drastically being overlooked in the United States, Awareness.
As we come into the "Soaring 20's" there is an understanding that the average first-time homeowner is acutely more aware of environmental impacts than any previous generation. That's because these individuals were raised during an age that saw Environmental Science become a course in high school and college, were privy to the first generation of hybrid & electric vehicles, and because of the internet, social media, and email/instant messaging were allowed to see the world in a way never experienced before. This is not to say that previous generations did not care about the environment, but it was not made a priority like it is now.
We have reached a benchmark point in the United States where we are the 2nd highest consumer of electricity in the world, and now we are the third highest producer of residential solar electricity in the world. The sad truth is that even with that we are producing only 11.6% of our total usage with residential solar power. In order to fully understand the scope of this all we have to realize is that if just 1 in 5 homes installed solar panels on their roofs, we would reduce our dependence on coal, oil, and natural gas by nearly 46% nationwide which would reduce the amount of Carbon Dioxide released into the atmosphere by 1.5 million tons, the equivalent of driving nearly 3.8 billion miles in one single year.
Going Solar makes sense now more than it ever has in the history of the United States.