There are libraries full of information about solar. You could spend a lifetime reading up on everything from how it works to the way it’s changing the world. The US Department of Energy is an outstanding resource for anything you could want to know. Lucky for you, our Frugll experts did all the research and simplified it into 4 key points below, just for you.
Now, let’s get to it.
1. The sun is very, very powerful.
Did you know? The amount of sunlight that strikes the earth's surface in an hour and a half is enough to handle the entire world's energy consumption for a full year. Just 22,000 square miles of PV panels – about the size of Lake Michigan – could supply enough electricity to power the entire United States.
These facts may shock you. So why did solar energy only provide about 2.3% of total U.S. electricity in 2020? It is sorely underutilized.
2. There are multiple ways to capture energy from the sun.
More specifically, there are 5 ways to use energy from the sun.
1) Photovoltaic Solar Energy
2) Concentrated Solar Energy
3) Water Heating Solar Energy
4) Solar Pool Heating
5) Thermal Solar Energy
The most popular type of solar energy is photovoltaics (PV). It’s the most popular because of efficiency, reliability, and its ability to power a variety of systems.
“Photovoltaic (PV) technologies – more commonly known as solar panels – generate power using devices that absorb energy from sunlight and convert it into electrical energy through semiconducting materials. These devices, known as solar cells, are then connected to form larger power-generating units known as modules or panels.
“A single PV device is known as a cell. An individual PV cell is usually small, typically producing about 1 or 2 watts of power. These cells are made of different semiconductor materials and are often less than the thickness of four human hairs. In order to withstand the outdoors for many years, cells are sandwiched between protective materials in a combination of glass and/or plastics.
- US Department of Energy
3. They care about the sun’s energy.
In 1981, the Office of Energy Efficiency and Renewable Energy (EERE) was formed. Their mission is to “create and sustain American leadership in the transition to a global clean energy economy.” They accomplish this by working with universities, businesses, and other entities to increase the use of renewable energy and energy-efficiency technologies.
How do they incentivize change? “EERE encourages the growth of these technologies by offering financial assistance opportunities for their development and demonstration.”
These incentives come in two forms, tax credits, and grants. Currently, homeowners can apply 26% of the cost of their system towards a tax credit on their federal taxes. You can dive deeper into the tax credit here or ask one of our experts for more personalized information. Because using renewable energy is so important to the United States, the government also sets aside tax dollars to give as grants for different energy-efficient projects, like going solar. You can look into these grants, and others at grants.gov.
Want to know some exciting news? These are only federal incentives! Your state likely has even more incentives to apply towards your system. If you want to learn more about local incentives, keep an eye out for future blog posts. Or, simply visit your state government website.
4. The future is solar.
The average cost for solar panels has dropped by 70% in the last 8 years. “Markets for solar energy are maturing rapidly around the country since solar electricity is now economically competitive with conventional energy sources in most states.” - energy.gov So what does that mean for you? Solar has never been more affordable than it is right now.
Concentrated Solar Energy (CSP), another method for capturing energy from the sun, saw a 50% price drop in the last 10 years. If CSP cost reduction targets are met, studies show it could provide up to 158 GW of power to the U.S. by 2050. To put that into perspective, One GW is enough energy to power about 750,000 homes for a year.
Even better, the solar industry has proven itself as a major employer throughout the nation. There are more than 250,000 solar workers in the United States in fields spanning manufacturing, installation, project development, trade, distribution, and more. Plus, it keeps on growing. Jobs in the solar industry have increased by 167% in the past decade… five times faster than the overall job growth rate in the U.S.
“Solar energy hasn’t reached its full potential as a clean energy source for the United States, and significant work remains to be done to drive the deployment of solar technologies.”
What does the future of solar look like to the US Department of Energy?
“In September 2021, the Energy Department released the Solar Futures Study, a report that explores the role of solar energy in achieving these goals as part of a decarbonized U.S. electric grid… the study [found] that with aggressive cost reductions, supportive policies, and large-scale electrification, solar could account for as much as 40% of the nation’s electricity supply by 2035 and 45% by 2050”
To put it simply, the future is very, very bright.
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