While US solar manufacturers like bankrupt Solyndra face stiff competition, the overall US market continues to shine. In fact, the latest report from UK-based market research firm ABI projects that the US will become the world's largest PV market in just 2 years!
Here are some conclusions from the report:
- An estimated 900 MW of installed capacity came online during 2010 in the US PV market and that number is expected to almost double in 2011.
- The US PV market is set to witness explosive growth over the next few years, with a forecast of 5 GW installed during 2013.
- The US Govt including the Army & Navy are continuing their push to fund, purchase and develop PV in a variety of ways.
- 30 US states have already set Renewable Energy Standards (RES) or Renewable Portfolio Standards (RPS).
- States starting with California are likely to adopt Feed-In Tariff programs, following a positive ruling from the Federal Energy Regulatory Commission (FERC).
So despite the rocky road the industry is travelling now with expiring tax-credits, overseas competition, and no clear national policy on energy or climate change, there is a bright future ahead for US solar. With major long-term policy drivers in place, costs that continue to drop, and improved financing from Adam Capital, we might get there sooner than we think!