Technological News Portal

Solar Business Increasing In US Rapidly

According to the Solar Energy Industries Association (SEIA), the solar business is booming in the US. Market analyst GTM Research and Solar Energy Industries Association has seen that taking an 11% global share, the US has grown up from previous year’s 2.8 GW to 3.3 GW market in 2012. This trend could let USA to have 75 percent growth from 2011.


Nevada Solar Plant, Image Credit: renewableenergyindex.com

During 2011, some industry reduced the cost of solar panels up to 50 percent which helped a lot to increase the solar business rapidly in US . The U.S. installed 506 megawatts of photovoltaic panels in the first quarter last year. Now, the nation is focusing to install a total of 3,300 megawatts of solar panels by the end of this year. If the nation become successful to install 3,300 megawatts of solar panel, the U.S.’s share of the global photovoltaic market will jump from 7% last year to 11% in 2012.

The U.S. Department of Commerce has approved a preliminary tariffs on those solar cells. Final decision will come later this year. Regarding this matter, major Chinese solar cell makers are planning to circumvent the tariffs by using cells made in factories that are placed out of China in order to have the dominance in US.

On Tuesday Abengoa Solar said it would build a 200-megawatt photovoltaic power plant in California’s Imperial County. On Wednesday Silicon Valley installer SolarCity announced that U.S. Bancorp would finance $250 million in residential and commercial photovoltaic installations.

The domestic solar markets are booming more than ever. Globally, the US is now in 4th position in solar production at 2GW.

Source : Gigacom
Thanks To : Forbes

[ttjad keyword=”solar-device”]

You might also like
Why Not Join 250,000+ Readers, Like You!
AND GET OUR LATEST CONTENT IN YOUR INBOX

SUBSCRIBE 
Your information will never be shared
close-link