A recently released report by IDC Energy Insights stated that solar panel installations in the US will increase by two-fold in 2011, despite a lack of permanent government subsidies and a lagging economy. Among those expected to begin investing in solar energy are universities, small businesses and residential consumers. Experts have always expected interest in solar energy power technologies to increase, but none expected such a major shift to occur in such a short period of time. Although it remains to be seen if ICD Energy Insights’ prediction comes true, solar energy company stocks will likely soar as a result of the report.

As the number of consumers investing in solar energy panels increases, solar cost trends will decrease in direct proportions. Solar panels first became popular as ‘green living’ and environmental concerns started to be reported on by national news agencies. After several major oil spills and newscasts depicted North America’s most well known capital cities as smog filled landfills, solar energy manufacturers began to focus on home solar panel solutions that were easily accessible. While having solar panels installed in a home can easily cost the owner around $10,000, Congress is considering implementing more subsidies that will allow consumers to offset the steep price tag. After former Vice President Al Gore released a movie titled ‘An Inconvenient Truth,’ many more US citizens began to pay attention to changing climate trends as well as reevaluate their direct contributions to the deteriorating environment. While solar energy technologies will not end emissions by itself, ending the US’s dependence on crude oil and other forms of energy that produce toxic emissions, it will help substantially. If the prediction made by IDC Energy Insights comes true and more individuals begin to install solar panels in increasing numbers, North America will no longer need to import billions of barrels of crude oil a year.