20 July 2018

Sunny Days Ahead for US Solar Industry

Sunny Days Ahead for US Solar Industry

There is a steady growth in the solar energy industry of United States; while there is a continuous effort by U.S to come out of economic difficulty.

In 2012, San Antonio, Texas had more than 224 sunny days which plays an important role in the present growth of solar energy industry and also in the years to come. Due to the increased demand of solar energy, falling cost and new financing options, U.S. solar energy industry had experienced a continuous growth in the past five years.

In 2013, Texas ranks 13th in the U.S. for cumulative installed solar capacity, and the state has great potential to improve this ranking in the coming years by implementing policies creating a more favourable business climate for solar.

Germany, receives about 1,625 hours of sunlight each year and boasts more than 31,000 megawatts of total installed solar capacity. Whereas, Texas gets 2,850 hours of sunlight a year but only has 121 megawatts of solar. Hence, policies must improve the solar capacity in Texas.

Since 2008, in U.S. the total usage of solar powering to homes, businesses and military bases has increased to more than quadrupled, i.e. from 1,100 megawatts to more than 6,400 megawatts in 2013, which is enough to power more than one million average American households.

In 2012, there was more solar capacity that was installed in the first three quarters as compared to 2011, according to U.S. Solar Market Insight Report: Third Quarter 2012, recently released by the Solar Energy Industries Association (SEIA) and GTM Research. But, as per the report, the industry expects to have installed more than one gigawatt of solar in the fourth quarter of 2012 alone, while in 2010 the industry has installed 852 megawatts for the entire year and also expects 2013 to be another year of record growth for solar energy industry.

According to SEIA, the growth in solar energy industry is also driven by the cost of a solar system that has dropped by 40 percent over the past two years, due to which solar has become more affordable for the customers. But, the rapid fall in prices, there is a heavy global oversupply which has become a major concern for some manufacturers. The report also says that, these challenges will also continue in 2013, as the industry matures and economies of scale come into play.

At present, America’s solar industry employs more than 119,000 workers throughout the country as compared to 13.2 percent growth in 2011, which has made solar industry as one of the fastest-growing industries in the nation. Around 5,600 companies that make up America’s solar energy industry are small businesses spread across every state in the union, which also includes 260 companies in the Lone Star State, Texas which as employed around thousands workers, which clearly shows that the solar energy industry is helping the U.S economy to recover. Thus, the U.S. solar industry is strong and growing.

Source: mysanantonio.com

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