The US Solar PV Market Analysis: Policies and Incentives, Industry Trends and Forecasts to 2015
The research analyzes the growth and evolution of the US Solar PV market and gives historical and forecast statistics for 2001-2015. This research analyzes the market scenarios for this technology and regulatory policies that govern them. Detailed information on key current and upcoming solar parks gives a roadmap to this market’s development. This coupled with elaborate company profiles give comprehensive understanding of the market scenario. ( http://www.bharatbook.com/
Global Solar PV market is growing rapidly
The global solar PV market witnessed tremendous growth in 2008 and 2009 with 11,908 MW (megawatts) of installed capacity coming online in these two years as compared to only 2,392 MW installed in 2007. The cumulative installed solar PV capacity has more than doubled since 2007. Installed capacity increased from 9,162 MW in 2007 to 21,070 MW in 2009. Europe is the leading solar PV market with a share of 66% followed by the Asia-Pacific with the share of 17% in 2009. The market is driven by supportive mechanisms offered by governments across the world. The market stimulation packages being offered by several governments are expected to drive the growth of this industry in the coming decade.
The US solar PV market is driven my government support policies
The growth momentum of the US solar PV market has been largely facilitated by the support mechanisms provided by the federal and state governments. The US federal government has provided funding of $3.1 billion to the states, as part of its economic stimulus package, to encourage PV installations and expand solar PV support programs. This is part of the country’s plan to encourage the growth of renewables in the energy portfolio. The US government has extended the production tax credit (PTC) and investment tax credit (ITC) parts of the stimulus plan for PV development. The government has also extended federal tax credits for solar PV. California, the leading solar PV market in the US, was the first to initiate the feed-in tariff (FIT) system in the country. These support mechanisms combined with other policies and incentives are expected to open up high-growth markets for PV. In this backdrop the US market for solar PV is expected to rise to 10,885 MW by 2015 at a CAGR of 39% during 2009-2015.
US Solar PV cell production increasing steadily
US Solar PV cell production has seen a steady increase in volume over the last five years. Even with a steady increase in the volume of cell production, the country’s share of the total global cell production continued to fall. The main reason for this fall in market share can be largely credited to countries like China, which is the largest producer of PV cells, Germany and Japan. The US PV cell production has reached over 650 MW by 2009, growing at a CAGR of over 26% for the period 2001-2009. The US holds about 7% of the global solar cell market. The top five solar cell-producing countries are China, Germany, Japan, Taiwan, and the US.
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