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Extreme Growth in U.S. Solar Market Expected

 The United States solar energy market is poised to grow by an extraordinary 42% annually over the next decade, soaring from a current solar power capacity of 1.4 gigawatts to 44 gigawatts by 2020. This is the main finding of a recent report issued by Bloomberg New Energy Finance (BNEF), the world’s leading independent provider of news, data, research and analysis to decision makers in renewable energy. The report, titled “Quantifying the US solar market: system returns and new build projections,” suggests that the combination of declining equipment costs with stronger government support has set the stage for this extreme growth.
 
Furthermore, the report finds that while policy measures such as tax credits and other incentives will drive this growth for the next three years, the industry can soon be self sustaining. Milo Sjardin, BNEF’s US head of research, said that by the middle of this decade, “the US retail solar market will be driven by fundamental, unsubsidized competition, which should transform the US into one of the world’s most dynamic solar markets.”
 
For more information on this exciting report, click here: Bloomberg Report