Report: Solar industry expected to surpass $57 billion by 2022

The solar panel market is expected to grow rapidly over the next two the three years, according to a new report.

Specifically, the Solar Panel Market research report, conducted by Zion Market Research, states that the market is expected to hit $57.5 billion by 2022. This figure is based on analysis such as probability, SWOT analysis, statistic formulas, probability and more. The report also indicated that projections can be suppressed or boosted through regulations introduced by governmental entities.

As an example of this, the Federal Solar Investment Tax Credit, which currently delivers a 30 percent tax break to residential and commercial solar customers, is set to drop to 26 percent next year, and all the way down to 10 percent in 2022 and beyond. However, legislators are currently proposing to extend the 30 percent credit another five years.

The solar industry remains strong. In fact, in the first three months of the year, America installed a record amount of solar panels.

With this kind of projected growth, it is clear that more and more people are believing in the future of renewable energy sources, particularly solar.

If you are interested in being part of the solar movement, whether that be for your home or business, Aztec Solar is here for the Sacramento region. We have a long reputation of nearly 40 years delivering quality residential and commercial solar projects in the area.

Contact us today at 916.853.2700 if you have any questions.

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