Projected Growth Within the Solar Energy and LED Lighting Industries

January 18, 2019

Projected Growth Within the Solar Energy and LED Lighting Industries

The United States continues to explore its energy options for a variety of purposes. In order to provide energy for hot water and lighting, for example, solar energy and LEDs are becoming more prevalent. These two sources of energy have demonstrated that they are cost-effective and environmentally-friendly. Given this, predictions indicate that their usage will continue to expand.

Growth Within the Solar Energy Industry

The Solar Energy Industries Association reported that almost 250,000 Americans work within this field. There are over 9,000 companies throughout the country that employ these individuals. It’s important to note that every state has at least one operational solar power company.

By December 2017, the United States had 49 gigawatts of total solar capacity. There were 1.6 million solar installations at that time. By the end of 2018, more than two million solar installations were expected to be installed. In 2022, it is expected that there will be four million installations.

In order to supply America’s energy needs, just 0.0005% of the planet’s surface would need to contain solar panels. The costs associated with solar panel installations have declined. Since 1997, the cost has actually decreased 100 times. Currently, solar panels cost approximately half what they did in 2008.

Growth Within the LED Lighting Industry

According to the U.S. Department of Energy, LED lighting demonstrates great potential. It is believed that the U.S.’s energy usage could be reduced by almost 50% if this form of lighting would be utilized more frequently. When comparing the energy used by halogen lights, for example, LEDs use just 15%. Furthermore, LED lights also emit 85% more light, which increases their effectiveness.

Contact a Dispensing Machine Manufacturer

Whether you’re in the solar, LED lighting, or another business that requires you to insulate electronics or other types of technology, you may be interested in learning more about an adhesive dispensing system. In addition to an adhesive dispensing system, your company may benefit from using other dispensing solutions, such as a meter mix system. When specific parts are properly insulated, this protects them and ensures that the final product will work optimally. Once you contact a dispensing machine manufacturer, you can learn more details about these and other products.

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