Its no secrete that the solar industry is booming again, and this time, it’s not going to slow down. Check out these 10 statistics about the state of the industry and its growth.

In the last year, the solar industry saw more robust expansion than ever before, growing 41% in 2013. That’s great news, considering carbon emissions have also reached a record high — in 2013, they increased by their fastest rate in 30 years, according to the World Meteorological Organization. Its report also showed that greenhouse gases were 142% higher than they were in 1750, before the Industrial Revolution.

Earlier this summer, the Obama administration and the EPA laid out rules to cut carbon pollution produced by coal plants, the largest producer of carbon emissions, by 30% before 2030. Research and development of renewable energy and adoption of alternative energy sources such as solar power are still slow going, but they seem to be heading in the right direction.

Here are 10 statistics about the state of the solar power industry to get you up to speed.

1. Two-thirds of all solar PV capacity has been installed since 2011

2. Solar energy employment in the US has increased by 20%

3. A solar PV system is now installed every four minutes

4. California leads the way for solar generation

5. The US solar market grew 41% last year

6. China plans to add 70 gigawatts of solar power

7. On average, solar panels are less than 18% efficient

8. 25% of roofs are suitable for solar panels

9. The majority of costs for solar power aren’t for the hardware

10. The cost of solar panels have declined 80% since 2008

Well; now you’ve got your fix–continue browsing to get more news and a better picture on how the global solar industry is evolving.

Article Reference:
This article has been adapted from an original publication on TechRepublic by Lyndsey Gilpin — September 15, 2014

Derick Lila
Derick is a Clark University graduate—and Fulbright alumni with a Master's Degree in Environmental Science, and Policy. He has 8+ years of solar industry research, marketing, and content strategy experience.

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1 Comment

  1. It’s crazy that the use of solar energy has grown so much in the past few years. There’s so much potential in solar power, but it’s hard sometimes for people to make the transition. I wasn’t aware however that the cost of panels has decreased 80% within the last 10 years. I don’t feel that’s common knowledge or more people would be using solar power.

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