SOLAR TRENDS

10 Solar Industry Trends That Matter

Let's Go Solar

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Capacity Boom

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Installations Rising

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Gigawatts Rising

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Sector Growth

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Financial Impact

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Installation Cost

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Growth Potential

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Employment

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Economic Growth

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Solar Wages

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10 Solar Industry Trends That Matter

Discover the impact on capacity, the economy, and more.

Let's Go Solar

Solar energy is one of the fastest-growing and most exciting industries in the world.

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solar.fluke.com

Discover the impact solar has on the energy market today and exciting facts about the potential for growth and the impact on the economy.

Capacity Boom

Solar accounted for 39% of new electricity-generating capacity added to the U.S. grid for the first half of 2022.

solar.fluke.com

01

*Wood Mackenzie

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Installations Rising

Corporate solar installations now account for 14% of all installed solar capacity, with half of all corporate solar installations taking place in the last two years.

solar.fluke.com

02

*SEIA

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Gigawatts Rising

Residential solar power installations rose by 34% from 2.9 gigawatts in 2020 to 3.9 gigawatts in 2021.

03

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*EIA

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Sector Growth

As of 2021, more than 225,000 Americans work in solar, 66% of which are solar installers and developers.

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04

*SEIA

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Financial Impact

In 2021, the solar industry generated nearly $33 billion in private investments in the United States.

05

solar.fluke.com

*SEIA

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Installation Cost

The cost to install solar has dropped by more than 60% over the last decade.

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06

*SEIA

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Growth Potential

Although most PV systems are built to last longer than 20 years, due to rising grid connection costs and the IRA’s extension of the 30% investment tax credit, asset owners are choosing to repower existing systems with new hardware.

In this decade, more than 67 GW of solar energy will reach 20 years of service to the grid.

07

solar.fluke.com

*SEIA

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Employment

Less than one-third of solar industry jobs require a bachelor’s degree, but positions are also available in advanced fields.

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08

*IREC

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Economic Growth

Over 17,000 new solar jobs were created in the U.S. in 2021.

09

solar.fluke.com

*DOE

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Solar Wages

Wages for solar workers are similar to, or higher than, wages for U.S. workers in similar occupations.

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10

*SEIA

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