Last Updated: May 6th, 2020 at 1:13 pm
Read Time: 3 Minutes
Those in the solar energy industry know how rapidly the industry is growing, but for customers on the outside looking in, it’s great to have numbers that showcase that growth. Thursday marked the reaching of a major solar landmark, as there are now more than 2 million solar panel installations in the U.S.
This mark was reached just three years after the solar industry completed its 1 millionth installation. Wood Mackenzie Power & Renewables estimates that the number of installations in the U.S. will double to 4 million by 2023. That’s exceptionally fast, considering it took 40 years for the first million solar installations to be constructed.
“The rapid growth in the solar industry has completely reshaped the energy conversation in this country,” SEIA president and CEO Abigail Ross Hopper said in a statement. “This $17 billion industry is on track to double again in five years, and we believe that the 2020s will be the decade that solar becomes the dominant new form of energy generation.”
POWERHOME SOLAR’s powerful metrics
So yes, solar is growing, and POWERHOME SOLAR has been among the companies driving this growth.
After starting business in 2015 with just 15 employees, POWERHOME SOLAR now employs nearly 700 employees, and it reached $100 million in revenue in 2018 for the first time in company history. The company has expanded into five new states since 2017, with Indiana being the most recent market the company has opened.
Of the 2 million U.S. installations, POWERHOME can take credit for nearly 12,000 of those. POWERHOME SOLAR was ranked No. 12 among all residential rooftop solar installers in the U.S. in 2018, and it has full intentions of rising up that list in 2019.
“According to our latest forecasts, by 2024, there will be on average, 1 solar installation per minute,” Wood Mackenzie Senior Solar Analyst Michelle Davis said. “That’s up from one installation every 10 minutes in 2010.”
These 2 million residential, commercial and utility-scale solar installations throughout the nation produce enough energy to power more than 12 million American homes. While that’s a massive number, solar still has a long ways to go in terms of wide-scale adoption in the country, because by 2024, only 2.5 percent of U.S. homes will have a solar installation.
That means that 97.5 percent of homes still don’t have solar, which showcases the massive opportunity that lies ahead to power the nation with clean, green solar energy. However, not every home can get solar, but POWERHOME wants to work with those customers who do qualify.
The value in working with POWERHOME
POWERHOME SOLAR is a trusted brand in all of its markets. It has partnerships with four professional football franchises (Carolina Panthers, Cleveland Browns, Detroit Lions and Pittsburgh Steelers), one pro baseball franchise (Cleveland Indians), and fans of each of those teams are heeding the call to solar energy.
For more information how your home can benefit from solar energy, call POWERHOME SOLAR at 800-765-2715 to see if your home qualifies. Once qualified, we can create a custom design and quote for your home, where you can be doing your part to save on electric bills and lower your carbon footprint.
Don’t rent your power from the power company. Own it with help from solar panels and POWERHOME SOLAR!