Solar power pertains to the conversion of energy from sunlight to electricity through direct utilization of Photovoltaics or PV and utilizing concentrated solar power indirectly or a combination. The concentrated solar power systems make use of mirrors, lenses and reliable tracking systems to concentrate on a larger area of sunlight to the small beam.
In New Jersey, solar installations have become widespread and popular as more individuals are investing in these practical and environmentally friendly installation options.
There is also an expected growth of New Jersey Solar Installation, particularly in terms of Residential Solar Installation and this future growth covers the following:
* 2018 is believed to be the first year with over 100 GW of solar installed globally.
* The global market is expected to exceed 500 GW of installed solar capacity by the end of 2018.
* With over 2,000 MW installed in NJ, New Jersey solar installations make up less than half a percent of the global market. California on the other end makes up nearly 5% of global solar installations.
* New Jersey solar installations remain strong with New Jersey holding on to a top 5 stop for solar installations in the USA. In the USA the top 5 states for solar installations respectively are California, North Carolina, Arizona, Nevada, and New Jersey.
* The global solar installation market continues to widen and grow. The top 5 markets have usually been China, The USA, India, Japan, and Germany. This year, Mexico is expected to be a top 5 player in the solar market.
* Other countries with emerging solar markets are Brazil, Egypt, The Netherlands, and Spain.
* Residential solar installations remain the most expensive in the US. The average cost of residential solar installations in the USA is about $2.65/watt which is very high compared to a country like Germany which is at $1.57/watt.
* Due to President Trump’s solar tariffs, there is expected to be an 11% decrease in the previously expected installation capacity in the US over the next 5 years.
* Despite President Trump’s solar tariffs and questions surrounding the Solar Tax Credit, The US and Global solar market remain strong. The Global Market is expected to exceed 500 GW of solar installed by the end of 2018.
If you’re in New Jersey, you can now stop paying higher electricity bills. The residential solar installation makes this highly possible. There have been notable New Jersey Solar Installations and projects completed over the years, and most projects are proven to have the capacity to power thousands of New Jersey homes.
Aside from residential solar installations, there have also been larger installations performed in New Jersey with sufficient solar capacity that can be utilized even by business structures.
For many years, homeowners in New Jersey have been forced to one-size fits all solutions to deliver power or electricity. However, everyone’s energy needs and financial profile are different so why not consider a system that is designed to meet your exact home energy needs and usage? This is exactly what New Jersey solar installations can give you.