The coronavirus pandemic has impacted everyone. Even though a lot of people believe utilities have been somewhat insulated from the pandemic, this is simply not the case. Massive blackouts have taken place recently throughout the southwestern United States. Even though a lot of people were eager to pin the blackout on renewable energy sources, renewable energy only makes up a fraction of the power in this part of the country. Now, it is obvious that people need more, not less, renewable energy. For this reason, record solar installations have been taking place during the pandemic.
Installations of Solar and Wind Energy Soared in 2020
When compared to the previous year, more than 33.6 gigawatts of energy were added to the power grid in 2020 — a record number of installations. This is enough power to supply energy to about 11 million homes for an entire year. It also represents 50-percent more renewable energy installations than the previous record which was set back in 2016. There are several reasons why renewable energy installations increased so much during 2020.
Why Has Renewable Energy Increased in Popularity?
Several reasons have emerged to explain why homeowners and business owners are investing in renewable energy sources:
- Consumers are smarter than they ever have been in the past. They understand that climate change is a significant issue and believe investing in renewable energy is a way to do something about it. Even if the emissions decline seen in 2020 was temporary, it does place the U.S. on track to meet the goals set by the Paris Climate Agreement.
- The price of electricity is rising. A lot of homeowners and business owners are tired of seeing their rates go up. By providing their own energy using solar energy systems, they can save money and preserve the power grid.
- A number of tax incentives for renewable energy are being phased out. Homeowners are acting now to take advantage of these incentives before they go away permanently.
These are just a few of the top reasons why so many people are rushing to invest in solar energy. What does this mean for the future?
Renewable Energy Will Only Become More Popular in the Future
As the technology surrounding renewable energy continues to improve, these energy sources will only become more accessible to homeowners and business owners everywhere. The hope is that this can not only save people money but also preserve the environment for years to come, including the amazing ecosystems on Maui.
Choose Maui Solar Project for Your Solar Energy
If you are looking for help with commercial or residential solar energy on Maui, then you need to rely on a professional solar installation company such as Maui Solar Project. We can help you install your solar panel system, including solar attic fans as well as solar hot water, making your home more sustainable and cost-efficient. Give us a call today to speak to a member of our team!