Solar power in the U.S. has developed 4,000% percent over the past decade but the sector still only records for 3% of power generation. The cyurrent administration of the country is willing to change it, and on Tuesday August 17, 2021, stated that solar could offer approximately 40% of the country’s power needs by 2035.
To fulfill this goal, the Department of Energy stated that the rate of development of solar will have to triple by 2030. Which means the prices must have keep falling.The net cost of a solar system relies on variables like size, power prices in the specific location and the purchasing or leasing of it. Solar’s leveled cost of energy that enables it to get in comparison with other resources have dropped by around 70% in the past decade.
The ultimate goal for the department of energy is to offer solar power at around 5 cents per kilowatt hour by year 2030, which is drop of around 50 cents in 2010. Commercial costs must drop to 4 cents by 2030 which were at 39 cents in 2010, as the utility-scale solar will have to decline to 2 cents by 2030 which was at 27 cents past decade.
U.S. solar deployments reach a peak in 2020 as dropping costs and helpful policies increased demand, and the market is anticipated to hit another record in this year as well.The Department of Energy also suggested to highlighting advanced manufacturing and innovation and also investing in community and low-income solar.