Solar Energy Facts updated for 2020

Understanding solar energy facts and statistics can help you better understand your personal solar needs in as well as get a better grip on the solar industry overall. Most California residents already know some solar facts such as:

• It’s a truly renewable energy source which can be harnessed in all areas of the world, every single day.
• Reduces the electricity bill and saves you money.
• Can be used for diverse purposes, such as electricity and heat.
• Has low maintenance costs year-round.
• Technology is constantly improving bringing costs down.

There are other facts and statistics which are newer in 2020 offering deeper insights into solar energy technology and usage. If you are considering switching to solar energy this year, here’s 9 new solar energy facts for you to consider.

#1 Solar energy as we know is a completely free and an almost endless source of energy.

We are harnessing it with modern technology, like photo-voltaic, solar thermal electricity, solar heating, solar architecture, and artificial photosynthesis.

#2 According to the latest statistics, our planet gets 174 Petawatts of incoming solar radiation in the upper atmosphere, from which 30% is reflected space and the other 70% is absorbed by the oceans, clouds, and landmasses.

#3 Worldwide, solar energy is being recognized as the future of alternative energy sources. This is due to the fact that it is a non-polluting option of getting energy which helps to combat the greenhouse effects on the global climate.

And since it is a renewable source that is practically owned by no one, it can be used without worry of raised prices.

#4 According to a new study published by HIS Markit, the global solar energy industry in 2020 is expected to record 14% growth compared to the total solar capacity installed in 2019.

This percentage in the U.S. is even bigger, as our solar installations are expecting a 20% growth in 2020.

#5 The U.S., especially North Carolina, California, Texas and New York, which are key drivers of solar demand, are considered to be the world’s second-largest solar market.

#6 Many spaceships are using solar energy for power, so solar energy is becoming a neccessity for many space missions in almost all countries worldwide.

#7 Solar energy is also becoming the preferred power source on occasions where the need for power is temporary. Such as mining sites, county and state fairs, and events like the Olympics.

#8 The price of solar batteries are falling. There are two main types of solar batteries, lead-acid batteries, and lithium-ion batteries.

The second type, which lasts longer, is more advanced and has better performance and consequently costs more, are experiencing a significant decrease in prices: their cost fell 35% from the second half of 2018 to the end of 2019, and this downward price trend continues in 2020 as well.

This is an outgoing trend as the prices have dropped to an incredible 76% since 2012. The best news is that this trend is expected to continue in the next decade as well.

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