By Cameron Williams, Director of Research, SVN International Corp.
In the ever-evolving world of commercial real estate, solar energy is a current stand out. As of 2022, the U.S. boasts over $35B in private solar investments and employs a solar workforce exceeding 260k — five times that of the coal industry. The Solar Energy Industries Assoc. highlights an impressive 24% average annual growth in the past decade, culminating in a staggering 155 GW of installed capacity, sufficient to energize 27 million homes. But it’s not just about sustainability; it’s a beacon of new economic opportunity. With declining installation costs and advancements ranging from high-efficiency cells to innovative solar shingles, the impact on commercial properties and industrial production facilities is undeniable.
Key Takeaways
SVN’s Energy Series highlights that solar energy remains a standout bright spot in the industrial and energy landscape, driven by significant investment, rapid capacity growth, and advancing technology — making it a compelling factor in commercial real estate planning and industrial strategy.
Why solar stands out:
- Rapid growth and investment — the U.S. has seen billions in private solar investment and strong annual capacity expansion.
- Employment and economic impact — the solar workforce has grown to far exceed traditional energy sectors, contributing to regional economic activity.
- Advancing technology & cost declines — improvements in efficiency and falling installation costs increase solar’s appeal across property types.