About This Statistic
This graph illustrates the revenue of the US solar power industry from 2007 to 2017. In 2011, this industry generated about 125 million US dollars in revenue. The industry grew by about 81.4 percent from 2010 to 2011.
Solar energy growth in the United States
The solar power industry in the United States has gradually increased its revenue over the past years, from 42.8 million U.S. dollars in 2007 to an expected 210.4 million U.S. dollars by 2017. The country has also increased its solar power generation, achieving a recent high growth of 72.2 percent between 2011 and 2012. It is expected that 2015 will be a record breaking year for the U.S. solar market with many large deployments on the pipeline. The residential solar market has also been extremely successful, reaching a capacity of 1,231 megawatts in 2014. Traditional electric utilities across the country have also begun to install solar modules, following a global trend of renewable energy expansion. Using residential solar energy provides consumers with an opportunity to function autonomously from the grid or receive feed-in tariffs. As of 2010, California began allowing homeowners to sell excess energy to their utility. In the Riverside-San Bernardino-Ontario - California metropolitan area, almost 19 percent of electricity generation is derived from solar sources. Feed-in tariffs have become one of the most successful mechanisms in encouraging the installation of solar power modules. Net generation of solar energy in the United States totaled 18.3 billion kilowatt hours in 2014.