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Solar Power Shines Brighter Than Ever
By Michael Schweibinz

Calendar year 2013 was an incredible year on Wall Street with stock market hitting all-time highs. Within the energy sector, natural gas made the most headlines; it’s been the leading source of new electricity generation capacity in the U.S. for the last two years. But did you know that solar power came in right behind natural gas in terms of new electricity generation?

The United States installed an unprecedented amount of solar photovoltaic (PV) in 2013. Installations totaled 4,751 MW, up “41 percent over 2012, and nearly 15 times the amount installed in 2008,” according to a new report from GTM Research and the Solar Energy Industries Association (SEIA).

Another recent publication by Energy Manager Today aims to quantify this impressive boom with a series of statistics that summarize the year. The most remarkable statement is “more solar has been installed in the last 18 months in the U.S. than in the 30 years prior.”

Greater economies of scale contributed to making 2013 the record year that it was. As production and efficiency increased, the customer benefited from lower unit prices for both systems and installations. Average prices ended the year, “15% below the mark set at the end of 2012.”

But more impressive, the price of a solar panel has plummeted 60% since early 2011. With solar packages becoming more economically and environmentally sound investments, the future of solar power certainly looks bright.

 

Read more about the impressive growth of solar.

 

 

At First Affirmative, we understand that the ways we save, spend, and invest can dramatically influence both the fabric and consciousness of society. We believe that in addition to the benefits of ownership, investors bear responsibility for the impact our money has in the world. Are you making conscious decisions about the impact of your consumer purchase and investment decisions?

Mention of specific companies or securities should not be considered an endorsement or a recommendation to buy or sell that security. Past performance is no guarantee of future results.

 

Posted: March 26, 2014