By Chris KelleherJune 17, 2018, 11:00:52Solar power generation in the United States is on the rise, with more than a third of the country’s power being produced by renewables by 2020, according to a new study released by the Solar Energy Industries Association (SEIA).
Solar power is projected to grow at a rate of 2.4 percent per year by 2020 with the US adding about 1.4 million megawatts (MW) of new capacity by that time, according the study, released by SEIA’s Solar Energy Foundation.
That would mean solar power is set to surpass coal as the second-largest source of electricity generation in 2020, surpassing coal’s 7.4 MW and coal’s 4.2 MW.
Solar power could become a more important source of power in the future due to the rising costs of solar and other renewable sources of power.
The price of solar panels, solar panels are expected to continue to drop and will only increase further as demand grows.
The SEIA report says that the cost of solar photovoltaic panels will fall to $0.20 per watt in 2021, from $0,30 in 2021.
The report also states that in the next three years, solar PV will be the cheapest source of solar power in terms of cost per watt.
It says that by 2035, solar power will have a cost of less than $0 per watt compared to $1.60 per watt today.
In addition, solar has been gaining in popularity in recent years, with the industry expected to increase by nearly 2 million MW of new installed capacity in 2020.
SEIA says the solar industry will contribute $16.4 billion to the economy by 2020.
The study says solar has the potential to provide up to 10 million jobs in the U.S. and more than $100 billion to states and communities by 2030.
In addition, the industry’s contribution to the U