Amid industry challenges, businesses are exploring new solar energy solutionsSolar power has become increasingly common over the last two decades, with commercial solar capacity in the United States growing almost tenfold from 1,877 megawatts in 2011 to 15,390 megawatts in 2021, according to theThe growth in solar adoption has led to a boom in production of solar equipment around the world.
To cope with the challenges of higher prices and parts shortages, businesses are asking a new set of questions about their solar energy projects — and their energy use as a whole. The recent changes that have made solar equipment more expensive have also had the effect of significantly inflating the per-watt energy cost for solar power for the first time in more than a decade.
The appeal of solar power may have diminished for many businesses with the advent of higher costs and a shortage of equipment. But energy costs are on the rise across the board. The U.S. Energy Information Agencywill increase by 3.9% to 14.26 cents per kilowatt hour in 2022.
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