Solar Construction Surges, Data Show
After years of disappointment, solar energy has surged as an energy source, particularly in the residential market. This increase may allow Americans to shed their dependence on fossil fuels to heat their homes. However, solar energy does face a problem. Parts of the industry are in financial trouble.
According to The New York Times, Americans used approximately $8 billion in clean energy tax credits from programs in the Inflaton Reduction Act. Residents of southern states primarily used these tax credits. The news organization used federal data from 2023 to calculate the total credits claimed for each energy source based on tax returns.
The list was topped by solar panels, at 752,300, followed by a more conventional way to save energy. 699,440 credits were for insulation or air sealing—exterior doors and skylights, at 694.450, and exterior doors, at 659,700.
As of mid-2024, about 4.27 million homes use solar heat. There are about 147 million housing units in the US. Although solar energy growth is encouraging, it has a long way to go as a primary energy source.
Solar energy continues to compete with relatively inexpensive fossil fuel heat today. This is due mainly to the large supply of oil and gas. Cheap oil and gas could be available for several years. Low oil prices could also mean rising air pollution.
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