Sunshot Initiative

What is the Sunshot Initiative and Why Should I Care?

The U.S. Department of Energy’s Sunshot Initiative is “a national effort to drive down the cost of solar electricity and support solar adoption.” This federal effort helps fund research, demonstration, development and projects from private companies, universities, organizations and governments to drive down the cost of solar electricity.

Homeowners across the country are considering solar energy installations as a result of the Sunshot Initiative. As a part of this effort, the U.S. government implemented the solar Investment Tax Credit (ITC). Passed in 2008, the measure offers a 30% tax credit for residential and business installations. Previously due to expire in 2016, the tax credit has been extended, and will remain fixed at a 10% incentive after year 2022.

As the costs are being reduced, there are plenty of opportunities for homeowners to take advantage of the long-term benefits of solar energy, including zero-cost leasing options that make installing panels affordable and convenient.

The Cheapest Solar Is Yet To Come

Solar Energy On The Rise

As reported by the Solar Energy Industries Association (SEIA), 2017 saw 10,608 installed megawatts (MW) of solar PV that has enough power to reach 53 gigawatts (GW) of total installed capacity. This amount is enough to power 10.1 million American homes.

“While it took us 40 years to hit 1 million U.S. solar installations, we’re expected to hit 2 million within the next two years,” said Tom Kimbis, SEIA’s interim president. “The solar industry is growing at warp speed, driven by the fact that solar is one of the lowest-cost options for electricity, and it’s being embraced by people who both care about the environment and want access to affordable and reliable electricity.”

Today, 1.6 million solar power installations decorate America’s landscape and rooftops, an achievement that is being respected as a milestone by advocates of solar energy. In 2000, only 1,000 such projects existed, and only six years ago, going solar cost twice as much. Approximately 25% of US homes are positioned for optimum solar energy. Estimates are that 80% of US homes will have solar energy by 2050.

Where are the majority of U.S solar powered homes located?

The top 10 states for solar energy are listed below. Today the U.S. has more than 1.6 million homes energized by solar.

SEIA tracks trends and trajectories.

1. California
2. North Carolina
3. Arizona
4. Nevada
5. New Jersey
6. Massachusetts
7. Texas
8. Utah
9. Georgia
10. Florida

Going Green Has Its Privileges

See what’s going on in your state
www.dsireusa.org (Programs)
Energy.gov/savings

Long-Term Cost Savings

Here’s a scenario for perspective. Consider that an average U.S. home uses about 1kW per hour of energy. At current estimates, the price per kWh is approximately $0.10. If expanded monthly, this home will require about 730 hours of energy. In turn, the average household cost of energy will be near the range of $73 dollars per month.

If your kW rate is less than $.08/kW, solar energy is cost prohibitive.

How to Get Started with Solar Energy
What steps are customers taking first to get a new system implemented? The first step is to get an assessment by a professional. Understanding your needs and what it will take to deliver those needs is job one. An informed decision is the best decision, especially when the outcome impacts your home, family and finances.

4 Common Questions For Your Solar Consultant:

• Is my home right for solar energy panels?
• What are the costs/savings?
• Are there any permit gathering duties required by the homeowner?
• How long will the process take, and will my home require modifications?