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The Solar Energy Industry is Growing But Still Faces Challenges (Watch)

The Solar Energy Industry is Growing But Still Faces Challenges (Watch)

The solar energy industry is growing — fast!

In fact, a recent report from The Solar Foundation says that for every 50 new jobs created in the U.S., one comes from the solar industry. Wow!

And that same report also says that the solar industry now employs more than twice the amount of people currently working in the coal industry.

This growth comes from a few factors, like increased consumer demand and lower prices for solar panels. It also represents a unique opportunity for small businesses, both those that want to make names for themselves in this growing industry and those that want to take advantage of lower prices for renewable energy.

There is one potential roadblock though. Throughout his campaign and early days in office, President Donald Trump has pledged to revitalize the coal industry. And Trump has also been critical of renewable energy in the past. So new regulations or changes to the energy sector could potentially slow the growth of the solar power industry in favor of other industries like coal. Of course, no official changes have been announced just yet.

The Takeaway from Challenges Facing the Solar Energy Industry

Aside from making their voices heard, there’s not much that solar businesses can do to ensure that potential changes don’t get in the way of the industry’s growth. But unexpected challenges are part of running any small business, especially those in new or growing niche industries.

Solar Panel Photo via Shutterstock

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Annie Pilon - Staff Writer

Annie Pilon Annie Pilon is a Senior Staff Writer for Small Business Trends, covering entrepreneur profiles, interviews, feature stories, community news and in-depth, expert-based guides. When she’s not writing she can be found on her personal blog Wattlebird, and exploring all that her home state of Michigan has to offer.

2 Reactions

  1. Aira Bongco

    The challenges could come from the fact that it requires a shift from what people are used to. It is important to address that factor first. It is nice that it is growing though.

  2. With time People are getting aware about solar products and other renewable resources. The price of solar energy has dropped by 50 % since 2010, according to the Solar Energy Industries Association. In several markets globally, solar power is significantly less expensive compared to traditional electricity. The growth can be a little low but eventually, it should increase.

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