Solar power is growing at an exponential rate. In fact, some writers and experts are pointing to the growth of solar installations in 2013 and 2014 and predicting more huge advances to come over the next few years.

2014 was a record setting year for the solar industry, with the industry growing by 34 percent over the previous year to install nearly 7,000 megawatts of solar electric capacity. Currently, we are on course for 2015 being another record year for solar power.

There are now more than 20,000 megawatts of cumulative solar electric capacity in the United State. That’s enough to power more than 4 million average American homes. According to one writer, “If this high growth rate continues … until 2022, then we will be already well on our way to providing most of the world’s power using solar.”

Powering the Globe

The big question for solar power has been whether it’s possible to provide energy for everyone simply by using the sun as a source. In the past many of the questions and concerns have been about storage. But technology is advancing at an astonishing rate, so it’s difficult to look too far into the future and accurately predict needs and production ability.

According to at least one study, based on today’s technology, the world’s power supply could be provided by placing solar arrays on an area just about equal to the size of Spain. While that might seem like a huge space, spread out over desert or other areas around the world it’s not as large as perceived.

In more local terms, that would be just a little larger than the state of California, which is fitting because the Golden State is the first state in the country to generate at least 5 percent of its power via solar panels.

The Upper Limit

All of the numbers and growth point to solar being a major player in electricity production for years to come. Although some skeptics continue to point to the relatively small percentages coming from solar now.

In 2011, futurist and inventor Ray Kurzweil predicted that solar would power the globe before 2030 based on the idea of exponential growth. For Kurzweil, the 1 percent of energy achieved through solar four years ago was part of a growth curve that cannot be stopped.

“Solar panels are coming down dramatically in cost per watt. And as a result of that, the total amount of solar energy is growing, not linearly, but exponentially,” Kurzweil said then. “It’s doubling every 2 years and has been for 20 years. And again, it’s a very smooth curve. There’s all these arguments, subsidies and political battles and companies going bankrupt, they’re raising billions of dollars, but behind all that chaos is this very smooth progression.”

It would appear, then, that solar power is on a path of global growth that could be beneficial to many developing nations. The initial part of this exponential growth curve is happening in developed areas where the cost of equipment can be handled, but as costs drop and output rises, the spread of solar power will continue to accelerate.

Especially when you consider that two thirds of the world’s solar PV capacity has been installed since 2011, all signs point to continued growth on the solar front for the foreseeable future.

If you’d like to find out how installing solar panels on your roof can help you drive your electric bill down to zero, contact us today for a free quote.