While solar power receives less importance every time fossil fuels become cheaper, a recent development may change that by 2016.

Solar electricity is about to become the cheaper energy choice in 47 U.S. states. This after solar electricity struggled against cheap natural gas prices and variable government and state subsidies over the years.

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Deutsche Bank recently reported solar electricity may indeed become the prime choice for U.S. households assuming the U.S. maintains its 30 percent tax credit on solar systems costs set to expire in 2016.

They go on to say that even if the tax credit were to drop to 10 percent, solar electricity will soon reach price parity with conventional electricity in 36 states.

As long as prices of solar technology drops and the financing becomes more affordable, solar energy will stop being just a mere plaything and will become more and more mainstream.

The bank's report said solar will come out ahead in 2016 by showing the anticipated cost of solar energy minus average electricity prices.

And the report indeed indicates solar energy will go far. Positive numbers confirm the savings for every kilowatt hour of electricity.

In the 10 states where solar energy has already reached grid parity, the installed capacity growth will increase six fold over the next three to four years. These states are also 90 percent responsible for U.S. solar electricity production.

The report said the reason why solar energy will dominate is simply because it's a technology, not a fuel. This allows for its efficiency to increase while its price decreases. Fossil fuels tend to go other way.

By 2050, Deutsche Bank states solar energy will be the single biggest source of electricity in the U.S.

TagsSolar, 2016