Tuesday, April 5, 2011

US solar industry value grows 67% in 2010

Since I'm on a renewable energy kick lately, here is some good news from Solar Energy Industries Association and GTM Research. In the last year the US solar energy industry value grew by 67%, from $3.6 billion to $6.0 billion.

This growth made solar the fastest growing sector of the energy industry, and a pace-setter for the country's economy -- whose GDP grew less than 3%.

The research points to four major catalysts for the industry's 2010 growth: renewal of the tax incentives offered in the 1603 Treasury program, completion of significant utility-scale projects, expansion into new markets, and reduction in cost.

While China is still the 'leading financier of clean energy' and the 'global manufacturing hub of the solar industry', I hope the US will give it a run for it's money, so to speak. I think we can really capitalize on the green energy market - manufacturing and innovation back in the US - what a lovely thought. And saving the planet in the process.

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