The State of New York Solar in 2022
During such a tumultuous time, it can be hard to keep track of how New York’s solar industry has responded and adapted. In the first quarter of 2022, recent developments and positive news for the solar industry have continued the shining record of New York’s growth and potential for green energy.
Due to the successes of policy changes and widespread public support, New York has increased their solar power by over 5500% since 2010. A special note of progress shows how much difference can be achieved through public and individual actions. Although there is a clear need to continue this increase over the next decade to replace non-renewable energy, our history shows us that we can make a difference.
New York’s future outlook on solar energy usage is even more promising than its past successes. Last week, New York approved a new framework for solar energy that will significantly expand solar power over the next eight years. With a groundbreaking investment of $1.5 billion in incentives to extend the NY-Sun program, this proposal will expand one of the most successful renewable energy policies in the state and put New York on track to cut its fossil fuel usage in half by 2030. The new framework also dedicates resources to serving disadvantaged communities and sets requirements for paying fair wages.
Unfortunately, supply chain issues have affected the solar panel pricing in New York, dampening some of the progress made. In the last two years, the cost per solar panel has increased for the first time since 2010. Despite an average increase of 20% in the previous two years, the overall trend of solar panel prices is still down 50% from 2010. As supply chain problems are alleviated, solar energy is likely to be cheaper than it has ever been before.
The intense growth rate, commitment to expanding policies, and the increasing efficiency of solar panels give us hope and optimism for renewable energy in the state and show dedication despite challenges. As we continue through 2022, we hope to see New York reach new heights in solar energy usage and build on the pattern of success from previous years.