According to a new report from the Solar Energy Industry Association and GTM Research, more solar panels were installed on American rooftops this year than ever before. There were also more residential solar panels installed than natural gas power plants. Forbes reports that while this growth is definitely large in comparison to previous years, it is only just getting started.
Based on a new analysis from the investment bank UBS and reported on by Green Tech Media, Solar photovoltaics could account for 10 percent of electricity supplied globally in the next decade. The conclusion of this analysis found that the global installed solar capacity will more than triple between now and 2025. This trend will also continue between 2025 and 2050. UBS estimated that nearly 3,000 gigawatts of solar may be installed worldwide by the middle of the century.
To put this into perspective, one gigawatt is essentially equivalent to one large coal or natural gas plant. The future truly is looking brighter for solar energy panels and renewable energy solutions. As UBS predicts in an article for Utility Drive, it seems that solar will eventually become the default technology of the future.
"We believe solar will eventually replace nuclear and coal, and [be] establish[ed] as the default technology of the future to generate and supply electricity," wrote the analysts.
If you want to take the first step towards the future of energy with solar energy solutions for your home, contact SolarMax Technology today. SolarMax Technology can offer you custom designs, no middle man, and a professional customer care team.
To receive a free solar consultation, click HERE.