Solar generation has skyrocketed over the last decade, growing 336% between 2014 and 2015. This fast growth has been driven by falling technology costs and innovative financing mechanisms, bolstered by state-level policies designed to encourage growth of the local solar market.
States across the US have adopted a variety of tools to encourage solar adoption. Common policies include Renewable Portfolio Standards (RPS), net metering regulations, and income tax credits for solar projects. Some states also employ more unique mechanisms, such as the Solar Renewable Energy Credit (SREC) markets in New Jersey and Massachusetts.
States are also increasingly passing policies to encourage adoption of energy storage and electric vehicles (EV), including mandates on energy storage capacity additions, tax credits and rebates for EV or energy storage project purchases, and policies to aid EV charging infrastructure growth.
As the solar market continues to mature and technology prices continue to fall, market forces are leading to an increase in solar and energy storage across the country.
Download our white paper to explore the nationwide growth and examine the policy of seven states with high solar penetration—California, Florida, Massachusetts, New Jersey, New York, North Carolina, and Texas.