U.S. Solar Power Systems Will Surpass Hydroelectric in 2024
Over time, it has become clearer that solar is the future of U.S. energy. Being renewable and increasingly affordable, it’s hard to ignore the fact that solar is one of the best energy sources available today. America has invested heavily in solar power systems over the past two decades, and it’s starting to show in the distribution of capacity.
In 2024, solar will surpass hydropower for the first time, and it will likely maintain its lead forever.
Here’s What the Data Says
Next year, hydropower will generate around 284 billion kilowatt-hours of energy. Solar is on track to generate 318 kilowatt-hours of energy in the same year, and it will be the first time that it exceeds hydropower.
The shift has been gradual but has accelerated massively in the last five years. Home solar power systems, large grid-scale projects, and community solar projects have all contributed to the expansion of the solar industry.
Analysts expect that solar will remain ahead permanently, and that solar will become the dominant global source of energy before 2050.
Generation methods like hydropower will still be important. A balanced grid is necessary to ensure a stable supply. Wind and hydro sources can work alongside solar energy to ensure that the grid is maintained no matter the time of day. Having alternative sources like hydro and wind can reduce the need for grid-scale battery arrays. Essentially, a diversified grid can ensure energy security and efficiency.
It’s interesting to see that solar is dominating so quickly on a large scale. It’s also a timely reminder that solar power in New York is currently the most efficient way to power your home.
How a New York Solar Installation Can Benefit You
Residential solar is a significant contributor to the shift in the energy industry. It’s a clean and renewable way to power homes. Most importantly for homeowners, it’s also more affordable than purchasing all of a home’s electricity from the grid.
When you get home solar installed, you’ll rely less on the grid, so your utility bills will shrink. During the day, your home will use electricity generated on the rooftop. Your New York solar installation will often produce more electricity than your home can use. The unused electricity will be exported to the grid, spinning your meter in reverse. This helps to balance your savings by covering some of the grid electricity that you purchase in the evenings. Some months of the year your bill will be close to zero, and you might pay nothing more than a hookup charge to your utility company. These high-production months help to offset those when solar production is low.
It typically takes between seven and ten years for a solar power system to “pay through” This is the time it takes to generate savings that are equal to the cost of a New York solar installation. Solar panels last a minimum of 25 years, and all the savings after that initial period can be considered a return on investment.
You’ll learn about the potential of solar for your home with a free energy savings evaluation from New York Power Solutions. We’ll also generate a cost/benefit report so that you can see the value of making the switch.
With detailed information, you’ll be able to make the best decision for your family.
We provide the information. You make the choice.
Start With a Free Estimate for Solar Power in New York
You can be part of America’s energy transition while enjoying significant savings at your home. Get your free NY solar estimate from New York Power Solutions and see what your future could look like with renewable energy. We’re available to start your solar power system consultation today.