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Solar Power Capabilities Are Expected To Surge in 2022

According to a recent report from S&P Global Market Intelligence, solar energy capacity in 2022 is expected to nearly double that of solar growth seen in 2021. Solar system installation is gaining momentum due to a call for environmental responsibility and is becoming a means of better business practice and personal financial sustainability in the U.S. Some reasons for the continued upward trend are:

1. More corporations desire to lower their carbon footprint.

2. Tax credits are expected to be extended.

3. State-level renewable energy requirements are expanding.

The following guide provides insight into the expected solar power growth.

U.S. Solar Energy Projections

The U.S. brought in roughly 23 gigawatts of new solar capacity in 2021. The utility-scale projections for 2022 have gained momentum with the anticipation of 44 gigawatts of increased capacity. Energy storage capabilities continue to improve with an expected 8 gigawatts of installed storage.

Climate Infrastructure  

Climate policy is a leading focus of the current administration. President Joe Biden has expressed hopes of reaching net-zero emissions by 2050. By 2035 the plan includes developing a power sector that is completely carbon-free. In November, the House approved the allocation of large funds for financing clean energy projects in a new infrastructure bill.

Home and Business

Federal and state governments offer an array of credits and rebate perks for homes and businesses in California, looking to move away from traditional electricity sources. Energy panels provide an on-demand current of electricity during daytime hours to be readily used. Any unused electricity makes its way through a utility meter back into the energy grid; this excess is converted into credit on an individual's upcoming utility bill. This credit can be extremely useful when combating scorching summer temperatures. In addition to hardware becoming more financially accessible, government initiatives and electricity preferences for homes and businesses increase the demand for solar energy. Solar panels offer a range of benefits to explore and pursue.

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