Mining companies, oil companies, electric utilities and large construction firms are among the biggest energy users of solar power, according to new data.
The new figures from Bloomberg New Energy Finance (BNEF) show that mining companies have spent $8.6 billion on solar power installations, compared to $3.7 billion by oil companies and $1.8 billion by utilities.
Solar is a cost-effective way to generate electricity and power the grid.
It’s a cheap and effective way to reduce greenhouse gas emissions.BNEf data show that energy companies are spending about 20 percent of their operating budgets on solar.
The biggest spender in the solar market is solar thermal, which uses sunlight to heat water.
BNEf’s analysis of solar thermal projects in the United States and Europe found that it spent about $3 billion on the project, with more than $2.6 million coming from utilities.
Utilities like PG&L, Duke Energy, Duke Solar and American Electric Power (ACEP) also invest in solar thermal.
The solar thermal market is growing.
The U.S. has more than 100,000 solar thermal plants.
Solar thermal is expected to grow to more than 60,000 by 2022, according the Solar Energy Industries Association.
Solar has been a cheaper way to produce electricity in the U.K., Germany and South Africa.
The biggest spending on solar thermal in 2016 was by the German electric utility E.ON, which invested $3 million.
It used the money to buy up solar panels for its customers.
The E.P.A. is also trying to install solar thermal power plants in Germany.
Solar thermal was the second-biggest spending category for utilities in 2016, according BNEF data.
Utility companies have been spending money on solar since the 1970s.
In 2006, the U-T San Diego Bureau of Economic Analysis said that utilities spent about 70 percent of operating profits on solar, and about 35 percent of electricity generation.
In 2016, that share dropped to 27 percent.
Solar is also cheaper than coal, which is a source of carbon emissions.
BSEF found that coal is the second largest source of greenhouse gas pollution in the country, after natural gas.
The data showed that the cost of installing solar panels on residential buildings was about 25 percent lower than that of coal.
BREEF estimates that solar panels will be installed on more than 4 million residential buildings by 2020.BREEF said the data showed a decline in the costs of solar panels over the last decade, from $5.3 billion in 2008 to $4.2 billion in 2015.
This decline was driven by a decrease in the cost and availability of solar energy, a decrease of natural gas power generation and a decline of coal power generation.