The market value of the US solar industry grew by 67 per cent to $6bn in 2010, from $3.6bn a year earlier, according to research by GTM commissioned by the Solar Energy Industries Association (SEIA).
Cheers for the Green energy efforts!
A total of 878MW of photovoltaic (PV) capacity and 78MW of concentrating solar power were installed in the US over the year, while 65,000 homes installed solar heating systems.
Installations more than doubled over 2009 figures, in contrast to the broader economy, which grew by less than three per cent.
The SEIA said the expansion was driven by declining costs, greater economies of scale, industry expansion into a wider number of states and improved installation practices.
Another growth driver was the Treasury’s 1603 programme, a set of tax credits and grants for renewable energy installations, which was due to expire at the end of 2010 but has now been extended for another year.
‘The US PV market saw a breakthrough in 2010 and is emerging as a global demand centre for both suppliers and project developers,’ said Shayle Kann, managing director of solar at GTM Research.
‘This report shows that solar energy is now one of the fastest growing industries in the US.’
‘This report shows that solar energy is now one of the fastest growing industries in the US.’
Cheers for the Green energy efforts!
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