All you have to do is drive through some cities to see that the solar panel installation industry is booming. The latest U.S. jobs report is another strong indicator of the solar panel industry’s growth. Solar energy jobs are experiencing a surge at the moment, which economist and the workforce are happy to see. A recent report from the Environmental Defense Fund’s Climate Corps found that green jobs are growing at a rate that’s 12 times faster than the rest of the economy.

And the trend isn’t occurring solely in the U.S. China has become a major player in solar power manufacturing, and Germany has played an influential role for years. All around the world solar panels are being installed at a record pace. Experts say a combination of factors is driving the growth.

Reasons Behind the Booming Solar Growth

Essentially, it’s a simple case of supply and demand. To understand the growth in the solar panel industry, you must first understand factors that influence consumers.

Solar Panel Installations Are More Affordable

Like most technology, solar panels had a very high price point early on that has decreased as innovation and competition increased. Three factors go into the solar panel installation cost: equipment, labor and permits. Equipment is by far the biggest cost, but solar panels have dropped significantly in price while increasing in efficiency. Continue reading →