With the year 2014 behind us, many have taken the opportunity to look back on the progress the U.S. economy has made since the “Great Recession” hit in 2008. While many industries struggled to regain their footing, or even reach a point of breaking even from the damages of the economic crash, the past six years have been surprisingly productive for the energy sector, with both domestic fossil and renewable energy production climbing at a healthy pace.

Well, perhaps when it comes to the solar industry, “healthy” isn’t even the right word—this sector is surging ahead at remarkable speeds. In fact, a new solar installation is being completed every two and a half minutes today in the U.S. That’s up significantly from the rate 10 years ago, of one installation being completed every two hours. And in 2014 alone, new domestic solar jobs were added at a pace 20 times faster than the overall economy. In terms of both investments and job creation, solar energy is seeing lots of activity, and people are starting to notice.

GTM Research recently released preliminary findings based on a study of the industry’s growth since 2008. Based on those numbers, GTM found that America installed a whopping 22 times more solar technology in 2014 than in 2008, including both photovoltaics and concentrating solar power. 

Source (News - Alert): GTM Research

On the subject of job growth, the strength of the modern solar industry has accounted for the creation of more than 80,000 new jobs since 2008. This appears to be in line with the growth of the industry itself; in 2008, the U.S. installed 263 megawatts (AC) of solar PV and CSP (News - Alert), while in 2014 the U.S. installed at least 5.7 gigawatts (AC).

But even amid such impressive growth, some experts and economists are concerned over the fate of the industry in the years to come, mainly due to the looming 2017 phase-down of the federal Investment Tax Credit for U.S. solar companies.  Considering the impact such actions had in the oil and gas industries, perhaps there is cause for concern. Even without the tax credit, many are hopeful that the industry will gain enough momentum—not to mention growing environmental need throughout the country—to stay afloat without it.

Either way, the success of the solar industry since 2008 has been great news for environmental advocates, and the economy.