According to Tracking the Sun, an annual report from Berkeley Lab, solar panel technology has seen significant advancements in both efficiency and affordability. The 2023 report highlights that “median residential system sizes reached 7.4 kW in 2023, with most systems ranging from 5-11 kW.” This represents a dramatic rise from 2000, when the median system size was just 2.4 kW.
The term “system size” refers to the solar panel system’s power-generating ability, rather than its physical dimensions, known as the roof-coverage ratio. While the panels are far more efficient than before, the roof-coverage ratio has remained relatively the same. This means that without increasing the solar’s footprint, a boost in energy comes from technological improvements in efficiency rather than an increase in panel size or greater coverage.
These innovations have made solar energy more appealing to homeowners who have been hesitant. A recent Pew Research study revealed that nearly 40% of Americans “have given serious thought to installing solar panels for their home within the past 12 months,” while 8% have already made the switch.
The leading motivation for considering solar? Saving money. Solar power can offer significant financial benefits, with Forbes estimating that over their lifetime, panels can reduce electricity expenses by $25,500 to $33,000.
The second most common reason Americans are drawn to solar energy, according to Pew Research, is environmental impact. Solar power reduces greenhouse gas emissions, improving air quality. Even if solar panels aren’t feasible right now, there are other steps you can take to reduce your environmental footprint—such as using cold water for laundry or switching to LED lightbulbs.
“Majorities of Americans say the United States should prioritize the development of renewable energy sources, such as wind and solar, and take steps toward the country becoming carbon neutral,” Pew Research noted. The advancements in solar technology are helping move the nation closer to that goal.
