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Wells Solar

Wells Solar

Texas Ranks #2 For Solar Power Installed In 2019!

A new report is out from the Solar Energy Industries Association (SEIA) and Wood Mackenzie showcasing the HUGE jump in solar panel installations all across America in 2019. Their data shows Texas taking the 2nd highest spot for total amount of solar installed throughout the year, and 5th for residential solar. There are now nearly 78 gigawatts of solar capacity installed nationwide, enough to power 14.5 million homes!

Scroll down to learn more about the growth of solar power in 2019!

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Solar accounted for 40% of all new electric generating capacity in the U.S. in 2019, more than any other source of electricity, with 13.3 gigawatts (GW) installed, a 23% increase from 2018.

To put that into perspective, 1 GW is equivalent to 1 Billion watts of power, so in 2019 more than 13 billion watts of solar power capacity was installed!

When we quote solar for homeowners in Texas, we’re talking kilowatts (kW) or 1,000 watts, so 1 GW of solar is similar to 100,000 homes each with 10 kW rooftop solar systems.

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Related reading: View the Wells Solar Portfolio of Solar Powered Homes in Texas

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There is now more than 76 GW – 76 billion watts – of operating solar power capacity in America.

In 2019, 39.8% of new power plants in America were solar, followed by natural gas (32%) and wind power (27%).

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Residential Solar Installation Data

  • California continues to be the largest residential market, led by a mandate that all new homes be built with solar panels. This began to gain steam in 2019 and is legally required for most single-family homes starting in 2020.
  • The top 5 states for home solar installations in 2019 were California #1, Florida #2, Arizona #3, New Jersey #4, and Texas #5.

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“From 2020-2021, residential growth will range from 9% to 17% due to both emerging markets with strong resource fundamentals like Florida and Texas and markets where recent policy developments have increased our near-term forecasts.”

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Utility Scale Solar Installation Data

Utility-scale solar PV can be thought of as the massive fields of solar panels that together form a solar power plant. Utility PV makes up the largest share of installed capacity in the U.S. solar market.

  • A total of 8.4 GW of utility-scale solar PV capacity came online in 2019.
  • The contracted pipeline has now reached 48.1 GW, the highest it has ever been in the history of U.S. utility-scale solar!

 

Related Reading: The Biggest Solar Farms In Texas

Takeaways: Why It Matters

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In the last decade alone, solar has experienced an average annual growth rate of 48%. Thanks to strong federal policies like the solar Investment Tax Credit, rapidly declining costs, and increasing demand across the private and public sector for clean electricity, there are now nearly 78 gigawatts (GW) of solar capacity installed nationwide, enough to power 14.5 million homes.

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Nearly 250,000 Americans work in solar – more than double the number in 2012 – at more than 10,000 companies in every U.S. state. In 2019, the solar industry generated $18 billion of investment in the American economy.

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The cost to install solar has dropped by more than 70% over the last decade, leading the industry to expand into new markets and deploy thousands of systems nationwide. Prices as of Q4 2019 are at their lowest levels in history across all market segments.

Related Reading: The Cost Of Going Solar in Austin Texas

An average-sized residential system has dropped from a pre-incentive price of $40,000 in 2010 to roughly $18,000 today, while recent utility-scale prices range from $16/MWh – $35/MWh, competitive with all other forms of generation.

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Homeowners and businesses are increasingly demanding solar systems that are paired with battery storage. While this pairing is still relatively new, the growth over the next five years is expected to be significant.

Product Spotlight: Tesla Powerwall Home Battery 

By 2025, more than 25% of all behind-the-meter solar systems will be paired with storage, compared to under 5% in 2019. The utility-scale market is also recognizing the benefits of pairing solar with storage, with over 8 GW of commissioned projects including storage, representing nearly 1 in 5 contracted projects.

Most Wells Solar customers are able to trade their power bills for solar savings. We aim to create a solar power system that will generate 100% of the electricity used within your home.

You can go solar for $0 down and save money each month. That’s right, thanks to historic low interest rates and new solar finance programs available in Texas, powering your home from solar panels is a smart financial decision.

Find out why Wells Does Solar Better™ in Texas!

Founded in 2014 in Austin, Wells Solar & Electrical Services is a family-owned establishment committed to installing high-quality solar power solutions that everyone can afford. The company also offers a full suite of solar panel service, maintenance and repair to ensure your solar investment provides the maximum return over its 25-year life. Find out why Wells Does Solar Better™ by visiting wellssolar.com.

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