Most of the attention may be focused on domestic oil and gas production, but it could be solar power that really helps the United States on its path to energy independence.
Aside from the high-profile bankruptcy of Solyndra—the solar panel maker that defaulted on a $528 million federal loan in 2011—the industry has been on a tear over the last couple of years. Solar installations are up more than 75 percent, according to the Solar Energy Industries Association, which projects another 65 percent increase in 2013. The industry’s rapid expansion has made solar the fastest growing energy source in the United States, according to the SEIA.
Much of those gains are thanks to a combination of tumbling installation and equipment costs—photovoltaic solar costs dropped almost 30 percent in 2012, the SEIA reported—and the rise of an innovative approach to financing expensive rooftop solar panels called third-party-owned solar.
Written by Meg Handley. To read the full article, click here