A report released this month by GTM Research and the Solar Energy Industries Association (SEIA) announced that 2016 was the U.S. solar market’s biggest year ever — with expected growth to nearly triple over the next five years. As a solar panel system producer, the possibilities resulting from this anticipated growth is truly exciting.
According to the report, “On average, U.S. solar photovoltaic (PV) system pricing fell by nearly 20 percent in 2016. This is the greatest average year-over-year price decline since GTM Research began modeling pricing in this report series.”
As solar systems become increasingly affordable, more and more commercial buildings and residential housing will turn to solar energy. And this trend is sure to grow as system prices continue to drop. The transportation industry is certainly reaping from the fuel savings benefits that solar provides. For example, using eNow’s solar battery-based HVAC solution, a single Class 7 or Class 8 truck can save about $5,400 per year in annual fuel costs. And that’s just one truck. Imagine the cost savings of an entire truck fleet.
And it’s not only the trucking industry that will continue to benefit and expand its solar applications; we’ll also see an increase in solar applications in RV, marine, camping and the military. Additionally, if fuel prices start to increase, solar adoption will happen at a much faster rate and with a quick ROI.
As solar energy system providers continue to educate companies and people on the availability of flexible applications as well as the environmental and fuel savings benefits, the transportation market is sure to continue its adoption of solar technology.