The average American consumes about 313 million BTUs of energy annually. In 2015, fossil fuels ― petroleum, natural gas, and coal ― still accounted for most of the nation's energy production and consumption.
However, more recent data shows renewable energy production is on the rise, and while the numbers are comparatively small, renewable energy accounts for 10% of total U.S. energy consumption and about 13% of electricity
Leading the way is solar. Solar energy has quickly emerged as one of the most rapidly growing renewable sources of energy. Scalable and offering a multitude of applications, solar technology is constantly evolving.
Photovoltaic (PV), solar heating & cooling (SHC), and concentrated solar power (CSP) are just some of today's more commonly used methods for harnessing
solar energy. And while storage technology has been around for decades, the buzz is now back. Whether it's due to recent super storms or its cost-reducing capabilities during peak hours for commercial customers, the idea of combining solar and battery power is gaining a lot of renewed attention.
The more recent popularity of solar power has resulted in a sharp
46% decline in the average price of residential photovoltaic installation over the past five years. States like Arizona, California, and New Jersey are at the forefront of this movement, having the most installed solar electric capacity in 2015.
The Solar Investment Tax Credit (ITC) has also provided industry stability and growth since its initial passage. As a result, the solar industry has experienced a compound annual
growth rate of nearly 60%.
So what does this mean?
A less hefty carbon footprint! Increasing the supply of solar energy would allow us to replace carbon-intensive energy sources and significantly reduce U.S. global warming emissions.
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