Over Next Five Years, Why Revenues for Solar Farm Developers Industry Are Expected To Steadily Rise

PALM BEACH, Fla., Sept. 14, 2021 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - Solar power is more affordable, accessible, and prevalent in the United States than ever before. From just 0.34 GW in 2008, U.S. solar power capacity has grown to an estimated 97.2 gigawatts (GW) today. This is enough to power the equivalent of 18 million average American homes. Today, over 3% of U.S. electricity comes from solar energy in the form of solar photovoltaics (PV).  According to Energy.gov, since 2014, the average cost of solar PV panels has dropped nearly 70%. Markets for solar energy are maturing rapidly around the country since solar electricity is now economically competitive with conventional energy sources in most states.  Solar's abundance and potential throughout the United States is staggering. PV panels on just 22,000 square miles of the nation's total land area – about the size of Lake Michigan – could supply enough electricity to power the entire United States. Solar panels can also be installed on rooftops with essentially no land use impacts, and it is projected that more than one in seven U.S. homes will have a rooftop solar PV system by 2030."  Active Companies in the markets today include Green Stream Holdings Inc. (OTCPK: GSFI), Sunrun Inc. (NASDAQ: RUN), ReneSola Ltd (NYSE: SOL), Canadian Solar Inc. (NASDAQ: CSIQ), Enphase Energy, Inc. (NASDAQ: ENPH).

Energy.gov continued: "Moreover, the solar industry is a proven incubator for job growth throughout the nation. American solar jobs have increased 167% over the past decade, which is five times faster than the overall job growth rate in the U.S. economy. There are more than 250,000 solar workers in the United States in fields spanning manufacturing, installation, project development, trade, distribution, and more.  Solar energy hasn't reached its full potential as a clean energy source for the United States, and significant work remains to be done to drive deployment of solar technologies. Solar hardware costs have fallen dramatically... Technological advances and innovative market solutions are still needed to increase efficiency, drive down costs, and enable utilities to rely on solar for baseload power."  A report from IBISWorld added: "Over the (next) five years, revenue within the Solar Farm Developers industry is expected to increase more steadily, albeit at a slightly slower pace... In general, the capital costs associated with developing and constructing a new solar farm are expected to continue falling over the next five years due to an excess supply of solar panels as well as general improvements and advancements in solar power technology, which will reduce the per-kilowatt-hour (kilowatt of electricity generated in one hour) cost of solar power…"